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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA potential rheumatoid arthritis treatment from drugmakers Eli Lilly and Co. and Incyte Corp. fared better than another drug in late-stage testing, and the drugmakers are moving closer to seeking regulatory approval to sell it.
Lilly said Tuesday that early results from a study that enrolled about 600 patients showed that its oral medication, baricitinib, proved superior to the established treatment methotrexate. The drugmakers are conducting several late-stage studies of baricitinib, which aims to treat patients with moderately to severely active rheumatoid arthritis.
The companies expect early results from a fourth late-stage study later this year, and a Lilly spokeswoman said they plan to submit the drug to the Food and Drug Administration before the end of 2015.
Rheumatoid arthritis is a chronic inflammatory disease that affects the joints and destroys soft tissue, cartilage and bone. It represents a major area of research for drug companies because it is chronic, meaning patients will likely take the drugs regularly for a long time.
Earlier this year, BMO Capital analyst Alex Arfaei predicted baricitinib could achieve $1.3 billion in annual sales by 2023.
Indianapolis-based Lilly bought the potential drug from Incyte in 2009 and is leading its development and the push to get it approved. Lilly will give Wilmington, Delaware-based Incyte milestone payments and royalties tied to annual sales if the drug is approved.
Lilly shares rose $1.45, or 1.8 percent, Tuesday morning, to $81.22 each. Incyte shares rose 5.4 percent, to $100.31.
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