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Biotech / Medical : Eli Lilly
LLY 1,071+1.4%Dec 19 9:30 AM EST

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To: Anthony Wong who wrote (441)12/11/1998 9:34:00 AM
From: Henry Niman   of 642
 
Yesterday BT Alex Brown issued a reiterated STRONG BUY on LLY in spite of the halt of their PTH (Para Thyroid Hormone) phase III trial for treatment of osteoporosis due to an adverse effect (bone tumors in rats treated with high doses). BTAB doesn't think that this will impact LLY's bottom line since the submission was slated for 2000, and the drug had to be injected.

However, such a result does help the argument for development of rexinoids to compliment SERM treatments (for osteoporosis and breast cancer). LLY, PFE, and AHP have rexinoid deals with LGND for osteoporosis and/or breast cancer. LLY also has a diabetes deal with LGND (Rexinoids with TZDs), while WLA has a Rexinoid/TZD deal with AGN.

Rexinoid/SERM details linked to Ligand Clinical Page as well as New Therapeutics Page
Rexinoid/TZD details linked to Diabetes page
(at biocognizance.com)
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