- A survey JP Morgan conducted of 25 U.S. physicians familiar with Alzheimer's disease found there there is a clear need for a drug that provides even a modest level of treatment benefit.
- Results indicated that the doctors see broad utilization if Eli Lilly's (NYSE:LLY) donanemab is approved, with 30%-40% of eligible patients using the therapy in the first five years after approval.
- The survey showed physicians largely split on donanemab vs Biogen's (NASDAQ:BIIB)/Eisai's (OTCPK:ESALF) aducanumab in terms of efficacy: those who view the two treatments as roughly comparable vs. those who view donanemab as superior.
- Physicians also saw donanemab's short duration of therapy compared to other anti-amyloid antibodies as a positive.
- Donanemab has a PDUFA date of June 7.
- JP Morgan analyst Chris Schott has an overweight rating on Lilly shares and a $240 price target.
- Late last month, a trio of FDA advisory committee members reiterated in JAMA their opposition to donanemab's approval.
- Lilly shares are down 0.7% to $183.53 in morning trading.