Lilly Treatment Earns ‘Breakthrough’ Designation

Lilly completed the CoLucid acquisition in March.

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The U.S. Food and Drug Administration has granted a "Breakthrough Therapy Designation" to an Eli Lilly and Co. (NYSE: LLY) breast cancer treatment. The designation is designed to expedite the development and review of drugs that treat serious conditions.

Lilly says abemaciclib is for patients with refractory hormone-receptor-positive advanced or metastatic breast cancer. The company says the designation comes after a Phase I trial.

The drugmaker says it is continuing a clinical development program involving abemaciclib. Lilly is underway with Phase II and Phase III trials on the treatment.