Phase III study will test Jakavi against COVID-19
Swiss pharma giant Novartis (NOVN: VX) is planning a Phase III trial, together with US drugmaker Incyte Corporation (Nasdaq: INCY), to test Jakavi (ruxolitinib) to treat cytokine storm in people with COVID-19.
After climbing several percentage points on Thursday, shares in both Novartis and Incyte continued to rise in after-hours trading.
Marketed in the USA as Jakafi, sales of the product topped $1.11 billion for Novartis in the full year 2019. It was first approved in the USA in 2011 as an option for myelofibrosis.
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