India, Jan. 18 -- Eli Lilly and Company (LLY) said that a late-stage trial of a treatment for sarcoma did not meet the primary endpoints. It is suspending promotion of lartruvo. It expects to incur a charge of $70 million - $90 million pre-tax or $0.10 per share in the first quarter. In addition, the company expects the trial result will have an impact of about $0.17 per share on full-year 2019 earnings per share guidance. but it does not change its 2020 minimum financial goals.
In the Friday pre-market trade, LLY is trading at $116.04, down $3.12 or 2.62 percent.
"Lilly was surprised and disappointed that lartruvo did not improve survival for patients with advanced soft tissue sarcoma in this study," said Anne White, president, Lilly Onc...