BUZZ-NASH drug developers fall after Eli Lilly's obesity drug shows liver scarring benefit

Reuters06-05

** Shares of NASH drug developers Madrigal Pharmaceuticals

fall ~10% to $220.76, Akero Therapeutics down 3.3% at $18.58 and 89Bio down ~2% at $8.19

** Eli Lilly reports mid-stage study data for its obesity drug being tested in patients with a serious fatty liver disease formerly known as NASH and now called metabolic dysfunction-associated steatohepatitis

** LLY's tirzepatide showed statistically significant fibrosis or liver scarring improvement in patients with no worsening of NASH, the secondary goal of the study, across all tested dosages

** "We see this as a strong outcome for LLY that definitively links weight loss to fibrosis benefit, and we expect shares of competitor, non-fibrosis-focused MASH names to trade lower," Guggenheim analyst Seamus Fernandez wrote in a note

(Reporting by Mariam Sunny in Bengaluru)

((Mariam.ESunny@thomsonreuters.com;))

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