BIIB - JP Morgan physician survey finds support for Lilly's donanemab in Alzheimer's

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 (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 (BIIB)/Eisai's (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

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JP Morgan physician survey finds support for Lilly's donanemab in Alzheimer's