Eli Lilly Shares Rise on Optimism for Alzheimer’s Drug
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Eli Lilly & Co. rose to a one-month high after an analyst said success of the company’s experimental Alzheimer’s drug could double the share price.
Lilly, based in Indianapolis, gained 3.9 percent to $38.86 at 4 p.m. New York time. Expectations have been “extraordinarily low” for the success of Alzheimer’s drugs, so a Lilly success with solanezumab could boost the shares 50 to 100 percent, Tim Anderson, an analyst with Sanford C. Bernstein, said in a note.