Eli Lilly and Company (LLY) Announces Updated Meaningful Data on Breast Cancer Treatment

Eli Lilly and Company (NYSE:LLY) is one of the best forever stocks to buy according to hedge funds. On December 15, Goldman Sachs lifted its price target on Eli Lilly and Company (NYSE:LLY) to $1,145 from $951 while reiterating a Buy rating on the stock.

On December 12, Eli Lilly and Company provided updated data for its oral estrogen receptor antagonist Inluriyo (imlunestrant) currently in Phase 3 Ember-3 Study. As a monotherapy, the candidate drug has demonstrated a clinically meaningful 38% reduction in the risk of progression or death in patients with advanced or metastatic breast cancer. The updated results were also consistent with previous efficacy results and demonstrated durable benefit across efficacy endpoints. The updated results also show a median progression-free survival of 11 months.

“Following the recent FDA approval of Inluriyo as monotherapy, these updated data demonstrate continued clinically meaningful benefit—both for patients receiving monotherapy and those receiving the combination with abemaciclib—and further reinforce its role in this treatment setting,” said Jacob Van Naarden, executive vice president and president, Lilly Oncology.

Meanwhile, on December 1, Eli Lilly announced plans to offer single-dose vials of Zepbound (tirzepatide) at reduced prices. Customers can enjoy discounts of $50 to $100, depending on dosage. The price reduction follows agreement between the President Donald Trump administration and manufacturers on the need for lower prices for GLP-1 medications.

Eli Lilly and Company (NYSE:LLY) is a major global pharmaceutical company that discovers, develops, manufactures, and sells human medicines and animal health products, with a focus on diabetes.

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Disclosure: None. This article is originally published at Insider Monkey.