Incyte To No Longer Participate In Co-funding Of Development Of Baricitinib

(RTTNews) - While reporting its first-quarter financial results on Tuesday, Incyte Corp. (INCY) said it has decided to no longer participate in the co-funding of the development of baricitinib.

The company said it took the decision in order to reallocate capital, over time, to other promising internal projects that could help it reach its objectives of diversification and growth.

However, Incyte added that it will continue to receive royalties on global net sales of Olumiant (baricitinib), pursuant to the terms of its agreement with Eli Lilly and Co (LLY).

Incyte noted that Lilly plans to share data from BREEZE-AD1 and BREEZE-AD2, two Phase 3 trials of baricitinib in patients with moderate-to-severe atopic dermatitis, at future scientific venues later this year.

Lilly also expects to provide topline results from other ongoing Phase 3 trials in this indication later in 2019. However, Lilly no longer plans to initiate Phase 3 development of baricitinib for psoriatic arthritis.