FDA nod for drug combo to treat hospitalized COVID-19 patients

20 November 2020

US pharma major Eli Lilly (NYSE: LLY) and Incyte (Nasdaq: INCY) on Thursday revealed that the US Food and Drug Administration has issued an Emergency Use Authorization (EUA) for the distribution and emergency use of JAK inhibitor Olumiant (baricitinib) to be used in combination with remdesivir in hospitalized adult and pediatric patients two years of age or older with suspected or laboratory confirmed COVID-19 who require supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO).

Lilly’s shares closed up 2.3% at $142.41 on the news yesterday, while Incyte dipped 1.3% to $81.69.

"Since the start of the COVID-19 pandemic, Lilly has been committed to finding potential treatments to help people around the world who've been impacted by this virus," said David Ricks, Lilly chairman and chief executive.

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