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MarketScreener Homepage  >  Equities  >  Nyse  >  Eli Lilly and Company    LLY

ELI LILLY AND COMPANY

(LLY)
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Hospitalized Covid-19 Patients Recovered Faster With Arthritis Drug

09/14/2020 | 11:12am EST

By Peter Loftus

Eli Lilly & Co. and Incyte Corp. said Monday they will seek U.S. emergency-use authorization for their rheumatoid arthritis drug Olumiant as a treatment for Covid-19, after a study showed that it helped hospitalized patients recover sooner.

Lilly and Incyte said adding Olumiant to remdesivir, a drug from Gilead Sciences Inc., shaved about one day off the median recovery time for Covid-19 patients, compared with patients who received remdesivir but not Olumiant.

The study of more than 1,000 patients began in May and was sponsored by the National Institute of Allergy and Infectious Diseases.

Lilly didn't disclose the total time to recovery for patients in the study. Previously, a separate study showed that hospitalized patients taking remdesivir had a median time to recovery of about 11 days. Lilly expects full results to be published in a medical journal soon.

"This is an impressive improvement," Lilly Chief Executive David Ricks said in an interview.

He said Lilly and Incyte plan to discuss the study outcome imminently with the Food and Drug Administration.

Olumiant is also known by its generic name baricitinib,

If the FDA agrees to authorize the emergency use of Olumiant, it would join a small but growing list of authorized Covid-19 treatments in the U.S., following FDA authorization of Gilead's remdesivir and convalescent plasma to treat certain Covid-19 patients.

Studies also have shown that certain steroids can help Covid-19 patients.

The FDA approved Olumiant, which is taken as a tablet, in 2018 to treat rheumatoid arthritis. Lilly decided to test it against the new coronavirus because it has anti-inflammatory properties that could be useful in controlling a type of immune-system response that accounts for the severity of Covid-19 disease in some patients.

However, other anti-inflammatory drugs from Roche Holding AG, Regeneron Pharmaceuticals Inc. and Sanofi SA have failed to help Covid-19 patients in separate studies this year.

Citi analyst Andrew Baum said in a research note that Olumiant likely suppressed certain inflammatory activity in Covid-19 patients, and may have helped reduce viral entry to patients' cells.

Olumiant had $285 million in global sales for the six months ended June 30, compared with $185 million in the year-earlier period.

The drug costs about $105 per day for government customers and $150 a day for commercial customers, Mr. Ricks said.

Lilly has increased production of the drug with a goal of having enough supply for both Covid-19 patients and rheumatoid-arthritis patients, Mr. Ricks said.

 

Stocks mentioned in the article
ChangeLast1st jan.
ELI LILLY AND COMPANY 2.19% 190.77 Delayed Quote.12.99%
GILEAD SCIENCES, INC. 1.49% 63.33 Delayed Quote.8.70%
INCYTE CORPORATION -1.61% 90.56 Delayed Quote.4.12%
REGENERON PHARMACEUTICALS 0.00% 517.93 Delayed Quote.7.21%
ROCHE HOLDING AG -0.54% 314.95 Delayed Quote.2.48%
SANOFI 0.12% 81.63 Real-time Quote.3.60%
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Financials (USD)
Sales 2020 24 408 M - -
Net income 2020 5 802 M - -
Net Debt 2020 11 301 M - -
P/E ratio 2020 30,0x
Yield 2020 1,56%
Capitalization 173 B 173 B -
EV / Sales 2020 7,55x
EV / Sales 2021 6,63x
Nbr of Employees 33 625
Free-Float 99,8%
Chart ELI LILLY AND COMPANY
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Eli Lilly and Company Technical Analysis Chart | LLY | US5324571083 | MarketScreener
Technical analysis trends ELI LILLY AND COMPANY
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 181,58 $
Last Close Price 190,77 $
Spread / Highest target 19,0%
Spread / Average Target -4,82%
Spread / Lowest Target -37,1%
EPS Revisions
Managers and Directors
NameTitle
David A. Ricks Chairman, President & Chief Executive Officer
Joshua L. Smiley Chief Financial Officer & Senior Vice President
Timothy J. Garnett Chief Medical Officer & VP-Global Medical
Aarti S. Shah Chief Information & Digital Officer, Senior VP
Daniel M. Skovronsky Chief Scientific Officer & Senior Vice President
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