FDA approves Eli Lilly's breast cancer drug

Eli Lilly and Co. on Thursday earned Food and Drug Administration approval for its breast cancer drug Verzenio.

The drug is intended to treat adults with advanced or metastatic breast cancer that has progressed despite prior treatment. Verzenio may be used in combination with the endocrine therapy, fulvestrant, or as a stand-alone treatment.

The drug will cost $10,948 a month before any discounts or rebates, according to Reuters. Eli Lilly will offer a special savings card program, in which commercially insured patients can receive the first three months of therapy free, and then pay a maximum of $10 per month for up to a year.

Eli Lilly plans to launch the drug by the end of October.

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