11:21 AM EDT, 06/20/2025 (MT Newswires) -- (Updates with NICE's response in the fifth and sixth paragraphs and the latest stock movement in the seventh paragraph.)

Eli Lilly ( LLY ) said Thursday it was planning to appeal against the UK's National Institute for Health and Care Excellence's, or NICE's, decision not to reimburse the cost of Alzheimer's drug Kisunla under the National Health Service.

The drugmaker said the regulator's decision is "unreasonable" based on the evidence submitted by the company, clinical experts and patient groups.

"This decision means that while patients can pay for the medicine privately, it will be denied to NHS patients in England," Eli Lilly ( LLY ) said.

The company said it remained confident in the clinical efficacy and cost-effectiveness of the drug.

The regulator said Thursday that donanemab, sold under the brand Kisunla by Eli Lilly ( LLY ), and lecanemab, or Leqembi by Eisai, are "not good value for money" as their benefits remain "too small to justify the additional cost to the NHS."

Approving the two treatments "could displace other essential treatments and services that deliver significant benefits to patients," the regulator said, adding that stakeholders have until July 8 to appeal against the final draft.

Lilly's shares were down more than 3% in recent trading Friday.

Price: 760.90, Change: -24.13, Percent Change: -3.07