Eli Lilly and Company
) recently announced the approval of its radioactive diagnostic
agent, Amyvid (florbetapir F 18 Injection), by the European
Commission (EC). Amyvid has been designed to help detect the
density of beta-amyloid neuritic plaques in patients (with
cognitive impairment) who are being evaluated for Alzheimer's
disease and other causes of cognitive decline.
While a negative scan would mean little to no neuritic plaques
are present, a positive scan would point towards the presence of
moderate to frequent neuritic plaques. It is to be noted that
while moderate to frequent amyloid neuritic plaques are usually
found in patients with Alzheimer's, the same may also be in the
case of patients with other neurologic conditions or in elderly
people with normal cognition.
Amyvid became a part of Eli Lilly's portfolio with its Dec
2009 acquisition of privately-held company, Avid
Amyvid is already available in the US where it was approved in
Apr 2012. Eli Lilly intends to launch Amyvid in select areas
within the EU starting from the second quarter of 2013.
Amyvid's launch in the EU should provide Eli Lilly with a
near-term revenue source. We note that Amyvid is a good fit in
Eli Lilly's product portfolio as the company itself has been
pursuing the development of treatments for Alzheimer's disease.
Meanwhile, Amyvid's approval provides physicians an additional
tool that can be used with other diagnostic options to evaluate a
We currently have a Neutral recommendation on Eli Lilly, which
carries a Zacks Rank #2 (Buy). Other large-cap pharma
Johnson & Johnson
) also carry a Zacks Rank #2.
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