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What Drove Eli Lilly in 3Q17?

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Part 11
What Drove Eli Lilly in 3Q17? PART 11 OF 12

How Is Olumiant Positioned after 3Q17?

Olumiant revenue trends

In 3Q17, Eli Lilly’s (LLY) Olumiant (baricitinib) reported revenues of $16.2 million compared to $4.8 million and $1.9 million in 2Q17 and 1Q17, respectively. Olumiant reported revenues of $22.8 million in the first nine months of 2017.

How Is Olumiant Positioned after 3Q17?

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RA-BEAM trial

In November 2017, Eli Lilly and Incyte (INCY) presented a new post-hoc analysis of the phase three RA-BEAM trial. The phase three RA-BEAM trial demonstrated that individuals with moderate-to-severe rheumatoid arthritis (or RA) receiving Olumiant had better improvements in pain control compared to patients receiving AbbVie’s (ABBV) Humira or a placebo.

Patients receiving methotrexate were randomized to receive placebo once daily, baricitinib four mg once daily, or adalimumab 40 mg biweekly. In the phase three RA-BEAM trial, patients receiving baricitinib showed 30% improvement in pain at a median of 1.9 weeks post-baseline versus a median of two weeks for patients on adalimumab and median of 4.6 weeks for placebo-treated patients.

Patients receiving baricitinib showed 50% improvement in pain at a median of four weeks post-baseline versus a median of 7.9 weeks for patients on adalimumab and a median of 14 weeks for placebo-treated patients.

Patients receiving baricitinib showed 70% improvement in pain at a median of 12.4 weeks post-baseline versus a median of 20 weeks for patients on adalimumab, while more than 24 weeks for patients on placebo.

With new data, Eli Lilly has plans to re-submit a new drug application (or NDA) to the US FDA (Food and Drug Administration) for baricitinib in January 2018. If baricitinib receives FDA approval, the revenue growth of the drug is expected to witness significant growth.

Olumiant’s competitors in the RA drug market include AbbVie’s (ABBV) Humira, Amgen’s Enbrel, and Johnson & Johnson’s (JNJ) Remicade. In 3Q17, Amgen (AMGN) and Pfizer generated revenues of $1.4 billion and $613 million from sales of Enbrel. In 3Q17, Humira reported revenues of $7.0 billion.

The PowerShares Dynamic Pharmaceuticals Portfolio (PJP) invests ~2.5% of its total portfolio holdings in Eli Lilly.

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