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Business

Eli Lilly's Alzheimer's drug fails trial, shares drop

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Opening sequence

Business

Eli Lilly's Alzheimer's drug fails trial, shares drop

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COMING UP:Eli Lilly's Alzheimer's drug fails trial, shares drop

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Transcript

00:00:02
>> Shares of Eli Lilly tumbling 10% in trading Wednesday, after an Alzheimer's treatment that had given many families hope failed in its latest clinical trial. The pharmaceutical company's treatment falling short of expectations that it could halt the mental decline of those even with mild symptoms. The Alzheimer's Association estimates the disease will strike as many as 28 million Americans by the middle of this century.
00:00:27
Lilly has spent more than $3 billion on Alzheimer’s research over the last 3 decades. Some analysts had projected that the company could have brought in up to $10 billion in annual sales with the drug boosting earnings for years.