FDA approves Celgene drug for psoriatic arthritis

[riky]

FDA approves Celgene drug for psoriatic arthritis

U.S. health regulators on Friday approved a Celgene Corp drug to treat psoriatic arthritis, a type of arthritis associated with the skin disease psoriasis that causes joint pain, stiffness and swelling. It is also being studied by the U.S. biotechnology company as a treatment for psoriasis and ankylosing spondylitis. Celgene has projected Otezla sales of $1.5 billion to $2 billion by 2017. "We're cautious about achievability of management's guidance for this product," Sanford Bernstein analyst Geoffrey Porges said.

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