Incyte, Novartis launch drug study to treat coronavirus complication

Incyte Corp. INCY, +4.53% said Friday it and Novartis AG NVS, +1.99% started a late-stage clinical trial to study a drug meant to treat a serious complication of COVID-19. The biotech company said it was testing the drug Jakafi to treat COVID-19 associated cytokine storm, where the immune system overreacts to the viral infection resulting in complications like pneumonia or acute respiratory distress syndrome.