Lilly to donate experimental COVID-19 treatment Olumiant to India

Shares of Eli Lilly & Co. gained 0.1% in premarket trading on Tuesday after the company said it will donate 400,000 doses of Olumiant, its rheumatoid arthritis drug that is being tested as a COVID-19 treatment for the severely ill in the U.S., to the Indian government. Lilly also said it will provide royalty-free licensing agreements to drug makers there to begin manufacturing the drug. Indian regulators on Monday authorized Olumiant as a treatment for severely ill COVID-19 patients as India’s COVID-19 crisis continues to worsen. Lilly’s stock is up 10.1% for the year, while the broader S&P 500 has gained 11.6%.

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