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EC approves Olumiant for RA

February 14, 2017 12:59 AM UTC

Eli Lilly and Co. (NYSE:LLY) and Incyte Corp. (NASDAQ:INCY) said the European Commission approved Olumiant baricitinib to treat moderate to severe active rheumatoid arthritis in adults who have not responded adequately to, or are intolerant of, disease-modifying anti-rheumatic drugs. The approval is the first in the world for Olumiant, and the first in the EU for a Janus kinase (JAK) inhibitor to treat RA, Lilly said.

Monday's approval triggered a $65 million milestone payment from Lilly to Incyte. The partners share rights to Olumiant under a 2009 deal. Incyte exercised a co-development option in RA the following year...