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Fly News Breaks for June 29, 2016
LLY
Jun 29, 2016 | 08:33 EDT
Leerink analyst Seamus Fernandez says that despite the narrowly positive FDA panel vote in favor of granting Eli Lilly's Jardiance an indication for reducing the incidence of cardiovascular death in diabetes patients with established CV disease, senior FDA officials appear convinced by the EMPA-REG results. The analyst sees this as a positive outcome for the company and its partner Boehringer Ingelheim, and adds that he believes an indication is likely. Fernandez recommends investors to buy Eli Lilly's stock at current levels and reiterates an Outperform rating and $101 price target on the shares.