Wednesday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Wednesday’s business headlines.

Eli Lilly

An Eli Lilly drug designed to treat arthritis is the latest anti-inflammatory being tested as a potential treatment for seriously ill COVID-19 patients.

Eli Lilly said its drug Baricitinib, which the Food and Drug Administration has approved as a treatment for rheumatoid arthritis, would be included in a large study run by the national institute of allergy and infectious diseases to test various potential therapies to treat COVID-19.

Shopping

Most Americans are expecting life to get back to “normal,” whereby social distancing guidelines are relaxed by the end of the summer or sooner.

Tally commissioned an online survey conducted by the Harris Poll found more than Two in three U.S. adults–68%–expect the coronavirus crisis to subside enough in the next five months to reopen businesses that were forced to close.

But the majority of U.S. adults can no longer pay down debts and are prioritizing spending to preserve cash right now.

Relief checks

About 80 million people will receive a government relief check by Wednesday, according to the Treasury secretary.

Those who do not can check IRS.gov for a status of their payment.

early evidence indicates Americans are using the money to buy the basics, including food and gas.

Wednesday would normally be tax day but, because of the virus, it was extended to July 15.

IMF lockdown

The International Monetary Fund says the coronavirus could lead the world economy into the worst recession since the great depression.

The result, which the IMF dubbed the “great lockdown,” has been a global economy that’s nearly paralyzed as businesses shutter their doors.