NEW YORK (TheStreet) -- Shares of Eli Lilly (LLY) were falling 0.35% to $82.48 in midday trading Wednesday after the drug manufacturer and Incyte (INCY) announced they will present five abstracts at the 2015 annual meeting of the European League Against Rheumatism in Rome on June 10.
The five abstracts feature data from three clinical studies and separate pharmacology studies for the investigational rheumatoid arthritis drug baricitinib.
The companies said they previously released positive topline results for the RA-BEACON and RA-BUILD studies, which met primary endpoint of ACR20 at 12 weeks compared to placebos.
"With the prevalence of rheumatoid arthritis worldwide, Lilly is excited to share further information about baricitinib with the scientific community," David Ricks, Lilly senior vice president, and president of Lilly Bio-Medicines said in a statement. "Lilly remains committed to following the science to challenge convention and continuously improve outcomes."
Insight from TheStreet's Research Team:
Big pharmaceutical companies have shown some life this year, but their results have been rather spotty. Eli Lilly (LLY:NYSE) is an exception.
Eli Lilly is nearly 140 years old and one of the biggest names in the pharma space. It's always on the cusp of creating some of the most exciting drugs and therapies, with recent progress made on autoimmune drugs and insulin, diabetes and liver disease treatments. All in all, the stock has been beating all the competition to the punch and its performance has reflected that.