Eli Lilly to abandon study of heart disease drug evacetrapib

This is the latest disappointment for the class of drugs known as CETP inhibitors, which work by increasing levels of good cholesterol while lowering bad cholesterol levels.

The setback makes it more challenging for Lilly to recover from a series of patent expirations for older blockbuster drugs that have hurt the company’s sales and profits in recent years.

“I don’t think that the strategy of CETP inhibition is going to work”, Steven Nissen, who led the study at the Cleveland Clinic in Ohio, said in a phone interview. In 2006, Pfizer Inc. halted a large study of its entry in the class, torcetrapib, because the drug increased risk of heart problems. Shares in Amgen Inc and Regeneron Pharmaceuticals rose on expectations the Lilly decision removed a competitive threat to sales of their injectable drugs, which block a protein called PCSK9. Upon the acquisition agreement, Amgen expanded its cholesterol portfolio by getting its hands on the CETP inhibitor in development at Dezima. Despite the stock plunge, Lilly shares are up 24% over the past year. But the influence on cholesterol levels did not ultimately improve patients’ health, dashing hopes for this approach to treating heart disease. Data from a 30,000-patient study is expected by 2017 to show whether it reduces the incidence of heart attack and strokes. But the independent committee overlooking the trials informed the company that “there was a low probability the study would achieve its primary endpoint based on results to date” and that the candidate demonstrated “insufficient efficacy”.

Eli Lilly and Co (NYSE:LLY)’s decision to stop the trial of evacetrapib would result in a charge of a maximum of pre-tax $90 million to Research and Development costs in the fourth quarter.

Eli Lilly and Co (NYSE:LLY)’s SVP and President of Lilly Bio-Medicines, David Ricks, said that the company was hoping that evacetrapib would provide an advance in the treatment of high-risk cardiovascular disease.

On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, Mahony Susan, officer (SVP & Pres., Lilly Oncology) of Lilly Eli & Co, unloaded 25,000 shares at an average price of $84.96 on July 28, 2015. “We remain confident in our pipeline as we prepare for launches in other therapeutics areas with significant unmet needs”.

Merck’s anacetrapib has become the one and only medication within a novel lesson named CETP blockers that continues to be in late-stage tribulations. “Merck continues to believe that anacetrapib has the potential to be an important treatment in the management of atherosclerosis”.

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