Shares in US drugs titan Eli Lilly & Co (NYSE:LLY) nudged 1.28% higher in pre-market trade on the back of positive findings on its migraine prevention drug - galcanezumab.
The detailed results from the 12-month, open-label Phase 3 study will be presented today at a conference in Vancouver.
Over a 12-month treatment period, galcanezumab was associated with a statistically significant reduction in the number of monthly migraine headache days under both dose amounts, the pharma giant said.
'These long-term results are significant for the millions of Americans with migraine,' said Christi Shaw, president of Lilly Bio-Medicines.
'They reinforce the efficacy and safety profile of galcanezumab while supporting its potential use as a self-administered, monthly injection.
"After more than two decades of research, Lilly is excited to submit galcanezumab to the FDA as a new potential treatment option that can provide more migraine-free days for people suffering with migraine."
According to the official data, healthcare and lost productivity costs associated with migraine are estimated to be up to $36bn annually in the US, yet the condition remains under-recognized and under-treated.
Separately, Eli Lilly revealed yesterday plans to lay off over 8% - or 3,500 - of its global workforce as it continues to reduce costs and suffer setbacks.
Patents for some of its treatments will soon expire and exclusive rights for erectile dysfunction medicine Cialis run out at the end of next year.
In January, it announced nearly 500 layoffs after an Alzheimer's medicine failed to yield results.