Lilly returns Jakafi rights to Incyte, which now amends deal with Novartis
Shares of Incyte Corp leapt 11.62% to $81.87 on Thursday, after the company announced that pharma major Eli Lilly (NYSE: LLY) had returned rights to develop and commercialize Jakafi (ruxolitinib) for use in the treatment of graft versus host disease (GVHD), allowing Incyte to enter an alternative accord for the drug.
Additionally, Incyte has amended its collaboration and license agreement with Novartis (NOVN: VX), granting the Swiss pharma giant exclusive research, development and commercialization rights for ruxolitinib in GVHD outside the USA.
In 2011, Jakafi was the first drug approved by the US Food and Drug Administration to specifically treat patients with the bone marrow disease myelofibrosis (MF). It was approved in Europe in 2012.
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