Biogen slips after competitor Eli Lilly’s Alzheimer’s trial hits target

Shares of Biogen (BIIB) are down about 1% near 8 am ET, off their earlier session lows, after competitor Eli Lilly’s (LLY) TRAILBLAZER-ALZ 2 Phase 3 study showed that donanemab significantly slowed cognitive and functional decline in people with early symptomatic Alzheimer’s disease. Shares of Eli Lilly are up $24.30, or 6%, to $428.50 in pre-market trading following the report.