 Eli Lilly Co. LLY, -1.22 and Incyte INCY, 4.80 said Wednesday the Food and Drug Administration has approved the use of their Olumiant for the treatment of certain adults who are hospitalized with COVID-19. The treatment, also called baricitinib, will be used for patients who require oxygen, non-invasive or invasive mechanical ventilation, or extracorporeal membrane oxygenation ECMO with a recommended dose of 4-mg once daily for 14 days or until hospital discharge, whichever comes first. 