Issue Date: April 24, 2017
Lilly, Incyte reel from FDA rejection
In a surprise move, FDA has rejected the arthritis treatment baricitinib, developed by Eli Lilly & Co. and Incyte. Shares of Lilly and Incyte were down 5% and 11%, respectively, on the first day of trading after the news was announced. In a response letter, FDA asked the companies for more clinical and safety data on baricitinib, a once-daily oral JAK inhibitor. The extra data could take the companies a year or more to supply, delaying the launch of what was anticipated to be a multi-billion-dollar-per-year drug.
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