Analysts: Celgene Arthritis Drug Could Sell Well

NEW YORK (AP) — Wall Street analysts on Tuesday said Celgene Corp.'s developing arthritis drug apremilast has the potential to become a key competitor in a market full of blockbusters, following positive midstage study data on the experimental treatment.

Late Monday, the Summit, N.J.-based company said the oral drug candidate met study goals in a Phase II clinical trial as it relieved symptoms of psoriatic arthritis. The condition is a form of arthritis affecting psoriasis patients. Psoriasis is a chronic immune disease that causes painful, red scaly patches to develop on the skin.

The drug candidate helped relieve joint pain, stiffness, and swelling associated with the condition. Celgene plans on moving ahead to late-stage studies on the drug candidate. ...