Eli Lilly (LLY) and Incyte (INCY) confirmed earlier that the U.S. FDA has approved the 2-mg dose of Olumiant, a once-daily oral medication for the treatment of adults with moderately-to-severely active rheumatoid arthritis who have had an inadequate response to one or more tumor necrosis factor inhibitor therapies. Lilly said it will launch Olumiant in the U.S. by the end of the second quarter of 2018. The price of Olumiant will be 60% less than the leading TNF inhibitor, noted Lilly, which will also be offering a patient support program, “Olumiant Together.” Incyte is now eligible to receive a $100M milestone payment from Lilly as a result of the Olumiant approval, which Incyte expects to recognize in the second quarter of 2018
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