Lexicon Pharma's diabetes drug successful in mid-stage study

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Lexicon Pharma's diabetes drug successful in mid-stage study

Lexicon Pharmaceuticals Inc said its experimental drug to treat diabetes reduced the use of insulin at meal times in a mid-stage study of patients with type 1 diabetes, sending the company's shares up as much as 17 percent. Morningstar analyst Karen Andersen said Lexicon would have to find a partner to fund late-stage development of the drug as a treatment for type 1 and type 2 diabetes. Wedbush Securities analyst Liana Moussatos, however, said Lexicon might not need a partner if it was allowed by the U.S. health regulator to pursue LX4211 as a treatment for just type 1 diabetes, without having to test the drug for type 2 diabetes. Johnson & Johnson's drug Invokana uses a similar mechanism to treat type 2 diabetes.

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