The FDA has decided not to grant marketing approval for Eli Lilly & Co.‘s and Incyte‘s (NASDAQ: INCY) rheumatoid arthritis drug baricitinib, and that setback is potentially good news for AbbVie (NYSE: ABBV) and Regeneron (NASDAQ: REGN).
Baricitinib was being evaluated for approval for use in patients diagnosed with moderate to severe rheumatoid arthritis, a big addressable market that’s worth billions of dollars in sales.
IMAGE SOURCE: ELI LILLY & CO.