Cramer dubs Lilly’s Alzheimer’s drug a ‘holy grail’ after today’s data

Eli Lilly and Co (NYSE: LLY) is in focus this morning after the pharmaceutical behemoth said its “donanemab” significantly slowed progression of Alzheimer’s disease in a clinical trial.

How effective is Lilly’s drug for Alzheimer’s

The study that spanned over eighteen months confirmed that a monthly dose of the said antibody infusion helped slow memory decline by 35%.  

More importantly, those on treatment were 39% less likely to advance into the next stage of Alzheimer’s. According to Maria Carrillo – the Chief Scientific Officer of Alzheimer’s Association:

Lilly now plans on applying for FDA approval before the end of this quarter, as per the press release. Its previous attempt to get expedited approval for donanemab was rejected due to insufficient data.

Jim Cramer reacts to the clinical trial data

Over 50% of the patients enrolled in the clinical trial completed the treatment within twelve months.

Donanemab was also shown to slow the decline in patients’ ability to perform daily activities by 40% at eighteen months. Reacting to the news on CNBC’s “Squawk Box”, famed investor Jim Cramer said:

Reported side effects include brain swelling and bleeding that resulted in three deaths during the trial. The pharmaceutical stock is up roughly 7.0% on Wednesday.