New drugs approved in May


The FDA granted approval for Olumiant (baricitinib), developed by Eli Lilly and Company and Incyte Corporation on May 31, 2018, for the treatment of Rheumatoid Arthritis.

Lilly will launch Olumiant in the U.S. by the end of the second quarter of 2018. The drug got approval from the European Commission in February, 2017.

The wholesale acquisition cost for Olumiant is said to be about $25,000 annually, which is 60% less than that of Humira, from AbbVie Inc, a competitor. The other competitors include Pfizer's Xeljanz, and Johnson & Johnson’s Remicade.