Celgene’s Positive Phase III Data For Otezla In Scalp Psoriasis Could Yield Broader Label
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.
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Bristol bought Celgene following multiple pipeline setbacks, but the biotech giant made positive progress recently that the big pharma will be expected to continue.
Amgen sees opportunity to grow Otezla sales through new indications and additional ex-US launches. The deal depends on Bristol closing its Celgene acquisition, pending FTC clearance.
Third quarter sales grew 18.5% to $3.89bn, beating consensus with Otezla's contribution of 40.3% growth. After several disappointments, Celgene appears to be back on track with efforts to boost revenue before Revlimid generics hit in 2022.