Eli Lilly, Boehringer Ingelheim’s Jardiance gets FDA approval for chronic kidney disease

Eli Lilly & Co.
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+0.69%
and Boehringer Ingelheim said Friday that the U.S. Food and Drug Administration has approved their blockbuster drug Jardiance, already used for heart failure and diabetes, as a treatment for adults with chronic kidney disease. The agency approved the tablets to cut the risk of sustained decline in kidney function, end-stage kidney disease, cardiovascular death and hospitalization in adults with the condition, the companies said in a release. About one in seven U.S. adults are estimated to have chronic kidney disease, and as many as 90% of them don’t know they have it, according to the Centers for Disease Control and Prevention. Jardiance was one of the first 10 drugs selected last month for the initial round of Medicare price negotiations under the Inflation Reduction Act. Lilly shares gained 0.3% premarket on Friday and are up 50% in the year to date, while the S&P 500
SPX,
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has gained 12.8%.