U.S. Markets close in 4 hrs 17 mins
  • S&P 500

    4,404.25
    +50.06 (+1.15%)
     
  • Dow 30

    34,354.46
    +434.62 (+1.28%)
     
  • Nasdaq

    14,901.12
    +154.72 (+1.05%)
     
  • Russell 2000

    2,221.25
    +35.07 (+1.60%)
     
  • Crude Oil

    70.51
    -0.05 (-0.07%)
     
  • Gold

    1,778.20
    0.00 (0.00%)
     
  • Silver

    22.80
    +0.23 (+1.01%)
     
  • EUR/USD

    1.1741
    +0.0011 (+0.0939%)
     
  • 10-Yr Bond

    1.3180
    -0.0060 (-0.45%)
     
  • Vix

    21.47
    -2.89 (-11.86%)
     
  • GBP/USD

    1.3659
    -0.0005 (-0.0355%)
     
  • USD/JPY

    109.6020
    +0.3820 (+0.3497%)
     
  • BTC-USD

    44,590.88
    -3,435.44 (-7.15%)
     
  • CMC Crypto 200

    1,073.98
    +33.50 (+3.22%)
     
  • FTSE 100

    7,079.53
    +98.55 (+1.41%)
     
  • Nikkei 225

    29,639.40
    -200.31 (-0.67%)
     

AbbVie, Lilly face fresh delays in FDA approval for expanded use of arthritis drugs

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

AbbVie Inc and ELi Lilly & Co are facing fresh delays in the approval of their respective rheumatoid arthritis drugs for treating chronic skin disease eczema as the U.S. health regulator assesses the new class of treatment over safety concerns.

The treatment, called JAK inhibitors, blocks inflammation-causing enzymes known as Janus kinases and targets a range of autoimmune diseases.

It, however, has come under the U.S. Food and Drug Administration's scrutiny after preliminary results from a safety trial of Pfizer's JAK inhibitor drug earlier this year showed an increased risk of serious heart problems and cancer in patients.

Due to the agency's ongoing assessment, both AbbVie and Lilly said on Friday that the FDA would be unable to take a decision on the expanded use of their drugs before the previously set deadline.

The decision on Abbvie's Rinvoq and Lilly's Baricitinib for treating eczema was expected by early third quarter after the agency in April extended its review of the drugs by three months to examine additional data.

The disease affects 16.5 million adults in the United States, according to patient advocacy group Asthma and Allergy Foundation of America.

AbbVie, which has sought to expand the use of Rinvoq to new indications including psoriatic arthritis and ankylosing spondylitis, is betting on the drug as its blockbuster treatment, Humira, loses patent protection in the United States in 2023.

Rinvoq, which brought in sales of $731 million for AbbVie in 2020, was approved for the treatment of rheumatoid arthritis in 2019. (Reporting by Amruta Khandekar; Editing by Anil D'Silva)