Preliminary U.K. research says Lilly drug can reduce the risk of death among severely ill COVID-19 patients

A new study found that baricitinib, a rheumatoid arthritis drug developed by Eli Lilly & Co. and Incyte Corp. , reduced the risk of death among patients who have been hospitalized with severe COVID-19. The new research, which was published Thursday in preprint form, meaning it's not peer-reviewed, came from the U.K.'s Recovery Trial. It compared baricitinib and the standard of care with the standard of care in about 8,000 patients over the course of 2021. Roche Holding AG's arthritis drug tocilizumab has also been found to be an effective tool to reduce mortality risk among some severely ill COVID-19 patients. Over the past year, Lilly's stock has gained 28.4%, while Incyte shares are down 10.3%. The S&P 500 is up 14.2%.

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