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Eli Lilly Receives New FDA Approval For Evista

Drug developer Eli Lilly said Friday the Food and Drug Administration approved its osteoporosis drug Evista for use in reducing the risk of invasive breast cancer.

The approval covers postmenopausal women with osteoporosis and postmenopausal women at high risk for invasive breast cancer.

Evista was given a label update earlier this year to add a warning that a study showed the drug increased the number of deaths due to strokes. But, the company said, the drug did not actually increase the number of strokes in patients.

Shares of Eli Lilly closed at $57.18 Thursday.

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