Three pharma stocks that stand to benefit from the announcement by Eli Lilly & Co. and Incyte that the FDA rejected their rheumatoid arthritis pill baricitinib were up Monday.
Gilead Sciences shares rose 56 cents in early trading Monday to $67.06 while Pfizer was up 9 cents to $33.97 and Abbvie up 38 cents to $64.51.
In a statement Friday, Lilly said the FDA has requested additional clinical data to determine appropriate doses of baricitinib. The FDA also asked for more safety data.
