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April 17, 2020, 4:50 p.m. EDT

Incyte, Novartis launch drug study to treat coronavirus complication

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By Wallace Witkowski

Incyte Corp. /zigman2/quotes/204510994/composite INCY -4.01% said Friday it and Novartis AG /zigman2/quotes/203243705/composite NVS -0.03% started a late-stage clinical trial to study a drug meant to treat a serious complication of COVID-19. The biotech company said it was testing the drug Jakafi to treat COVID-19 associated cytokine storm, where the immune system overreacts to the viral infection resulting in complications like pneumonia or acute respiratory distress syndrome. Incyte said it will study the application in the U.S., while Novartis will study the drug outside the U.S. The study plans to enroll about 400 patients globally.

/zigman2/quotes/204510994/composite
US : U.S.: Nasdaq
$ 86.79
-3.63 -4.01%
Volume: 3.30M
Sept. 18, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$19.77 billion
Rev. per Employee
$1.38M
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/zigman2/quotes/203243705/composite
US : U.S.: NYSE
$ 90.94
-0.03 -0.03%
Volume: 2.28M
Sept. 18, 2020 4:00p
P/E Ratio
28.93
Dividend Yield
2.21%
Market Cap
$199.34 billion
Rev. per Employee
$415,614
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