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Investor Alert

March 23, 2020, 10:11 a.m. EDT

Lilly to halt enrollment in clinical trials as a result of COVID-19

Shares of Eli Lilly and Co. (NYS:LLY) were down 2% in trading on Monday. The drugmaker has announced Monday morning that it will delay the start of most new clinical studies and is pausing enrollment of participants in ongoing trials due to the COVID-19 pandemic. Trials that have already enrolled patients will continue, the company said. "We hope to ease the burden on participating health care facilities and allow physicians to focus more of their efforts on combatting COVID-19," Lilly chief medical officer Tim Garnett said in a statement. Lilly's stock has dropped 8% year-to-date, while the S&P 500 (S&P:SPX) is down 28%.

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