Lilly reports one success, two failures with Arxxant diabetes drug

Eli Lilly reported two late-stage trials of Arxxant for diabetes complications failed to prove effective in reducing pain and other symptoms, but a third showed it did slow vision loss in diabetics. Arxxant had been expected to be a blockbuster drug for the company, worth $3 billion in annual sales within five years; the results were termed by a Lilly official as "a hit in our confidence," but the recent studies are not "a show stopper."

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