An experimental Alzheimer's drug developed by Eli Lilly and Co slowed cognitive decline by 35 per cent in a closely watched late-stage trial, the company said on Wednesday, raising hopes for a second effective treatment for the brain-wasting disease.

The drug, donanemab, met all primary and secondary goals of the trial. It slowed progression of Alzheimer's by 35 per cent to 36 per cent compared to a placebo in 1,182 people diagnosed with early-stage disease based on scans showing brain deposits of a protein called amyloid and intermediate levels of a second protein known as tau, Lilly said.