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Stock Alert: Eli Lilly And Company Jumps 11%

Shares of drug maker Eli Lilly and Company (LLY) are climbing more than 11% Monday morning on the news of FDA accepting supplemental New Drug Application for its type 2 diabetes treatment Jardiance.

Jardiance (empagliflozin) is currently being investigated as a potential new treatment for adults with chronic heart failure with reduced ejection fraction, including those with and without type 2 diabetes.

In 2014, Jardiance was approved to be used along with diet and exercise to lower blood sugar in adults with type 2 diabetes and to reduce the risk of cardiovascular death in adults with type 2 diabetes and known cardiovascular disease. The drug is marketed by Boehringer Ingelheim and Eli Lilly.

The FDA previously granted Fast Track designation to Jardiance for the reduction of the risk of cardiovascular death and hospitalization for heart failure in people with heart failure. This designation is for EMPEROR-Reduced and EMPEROR-Preserved trials. The sNDA was based on results from the EMPEROR-Reduced phase III trial and the EMPEROR-Preserved results are expected in 2021.

In March 2020, the FDA had granted Fast Track designation to Jardiance for the treatment of chronic kidney disease. This designation covers the ongoing EMPA-KIDNEY trial, the results of which are expected in 2022.

LLY stock, currently at $184.86, has traded in the range of $117.06- $189.3 in the last one year.

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