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UPDATE 1-Lilly's lung cancer drug fails late-stage study

(Adds drug trial details and share move)

Oct 10 (Reuters) - Eli Lilly and Co said on Tuesday its drug to treat non-small cell lung cancer failed to meet the main goal of improving overall survival in patients in a late-stage study.

Lilly's shares fell 2.4 percent to $85.00 in light premarket trading.

The trial was testing Lilly's Verzenio in patients with advanced non-small cell lung cancer with gene mutations, whose cancer has progressed despite initial therapies. The drug was being compared with Roche's erlotinib.

Verzenio showed some evidence of improvement in the secondary goals such as progression-free survival in patients and overall response rate, the company said.

The drug belongs to a newer class of oral medicines called CDK 4/6 inhibitors that block cancer cells' ability to divide and proliferate.

Last month, the U.S. Food and Drug Administration approved Verzenio to treat advanced breast cancer that has progressed following prior treatment. (Reporting by Divya Grover in Bengaluru; Editing by Maju Samuel)