- The FDA approved Eli Lilly And Co's (NYSE:LLY) Olumiant (baricitinib) for COVID-19 in hospitalized adults requiring supplemental oxygen, mechanical ventilation, or extracorporeal membrane oxygenation (ECMO).
- Olumiant is the first immunomodulatory treatment for COVID-19 to receive FDA approval.
- The FDA first issued an emergency use authorization (EUA) for Olumiant combined with remdesivir to treat COVID-19 in hospitalized adults and pediatric patients in November 2020.
- Related: Eli Lilly Achieves 80% Jump In COVID-19 Therapy Sales, Revises FY22 Guidance.
- In July 2021, the FDA revised the EUA to authorize Olumiant as a standalone treatment.
- Olumiant remains under EUA status for hospitalized pediatric patients 2 to less than 18 years of age requiring supplemental oxygen, mechanical ventilation, or ECMO.
- The FDA has revised the Letter of Authorization and associated fact sheets to remove the population covered under the approved indication.
- Price Action: LLY shares closed 0.08% higher at $285.70 during after-hours trading on Tuesday.
