Benzinga | Jun 29, 2021 03:28PM EDT

EC Selects Antibody Therapies, Arthritis Drug As Preferred COVID-19 Meds: Reuters

* The European Commission (EC) picked four antibody treatments and a repurposed Eli Lilly And Co's (NYSE:LLY) rheumatoid arthritis drug for an initial portfolio of preferred medications to treat COVID-19, reports Reuters.

* The selection of drugs is part of the E.U. Strategy on COVID-19 therapeutics, launched in May.

* Top picks include Eli Lilly - Incyte Corporation's (NASDAQ:INCY) Olumiant for hospitalized COVID-19 patients on oxygen, as well as new antibody drugs for early-stage disease from Regeneron Pharmaceuticals Inc (NASDAQ:REGN), Eli Lilly, Celltrion, and GlaxoSmithKline plc (NYSE:GSK) - Vir Biotechnology Inc (NASDAQ:VIR).

* The Commission reiterated it would draw up a portfolio of at least ten potential COVID-19 therapeutics.