Celgene’s Otezla Grabs New Psoriatic Arthritis Patients As Launch Accelerates
This article was originally published in The Pink Sheet Daily
Celgene reports its apremilast is attracting more new psoriatic arthritis patients than branded leaders in the space. Sales for its first full quarter amounted to $18 million and new indication in psoriasis should start to contribute later this year, company says.
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Celgene estimates 80% of moderate-to-severe plaque psoriasis patients experience the disease in their scalps, meaning positive data in this indication could broaden the market opportunity for Otezla substantially. Novartis’ Cosentyx got scalp psoriasis added to its US label in February.
The biotech has a three-pronged strategy to double revenues by 2017: continue to expand core multiple myeloma product Revlimid, bring new blockbusters online, and develop its early stage pipeline through deals.
Celgene Corp. has deepened its investment in antibody R&D, striking a collaboration with Sutro Biopharma to design and develop next-gen antibodies and to manufacture a proprietary Celgene candidate. Sutro gets cash, biobucks, and hi-profile validation of its multi-faceted non-cell antibody platform.