Pharmaceutical giant Eli Lilly (NYSE: LLY ) announced in a press release today that it will launch an additional phase 3 trial for its solanezumab treatment for patients with mild Alzheimer's disease. The company said it plans to begin the study no later than the third quarter of next year.
Eli Lilly doesn't believe it has sufficient results to gain regulatory clearance after the company met with the FDA, as well as Canadian and European regulators. But Eli Lilly'spresident of bio-medicines, David Ricks, said in the release that "We remain encouraged and excited by the solanezumab data."
Still, another trial will delay the potential launch of the drug should it clear regulatory hurdles, with a potential introduction possible by 2016 if the next study does indeed commence next year. Eli Lilly will continue to review the data and results from its earlier two phase 3 studies of solanezumab after the drug failed to meet its primary endpoints in those trials.