Eli Lilly, Incyte say filed NDA for rheumatoid arthritis drug
US drug major Eli Lilly (NYSE: LLY) and Incyte Corp (Nasdaq: INCY) on Tuesday announced that Lilly has submitted a New Drug Application to the US Food and Drug Administration for the approval of baricitinib to treat rheumatoid arthritis (RA).
Following the application Incyte is now set to receive a milestone payment of $35 million from Lilly related to the submission, the companies said in a joint statement. If baricitinib is granted US regulatory approval, Incyte will receive a milestone payment of $100 million from Lilly. Incyte could earn additional global regulatory as well as sales-based milestone payments and be eligible for royalties on global net sales of baricitinib.
David Ricks, president of Lilly Bio-Medicines, said: "Lilly's collaboration with Incyte has produced a rigorous Phase III program and, if approved, the potential of a promising new treatment option for people with RA."
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