FDA Allows Broader Use for Immunex's Enbrel - TheStreet

Biotech company

Immunex

(IMNX)

said Wednesday that its rheumatoid arthritis drug Enbrel has received regulatory approval as a treatment for psoriatic arthritis.

The approval of the label expansion for Enbrel by the Food and Drug Administration was expected. Psoriatic arthritis is a chronic inflammatory disease that causes both pain and swelling of the joints as well as irritating, scaly red patches on the skin.

Enbrel sales in rheumatoid arthritis are expected to reach $750 million this year. Immunex reports fourth-quarter and 2001 financial results on Jan. 23.

Immunex, which is now working through its $16 billion merger with

Amgen

(AMGN) - Get Report

, is next expected to receive FDA approval for Enbrel in psoriasis next year. The company will release important late-stage tests results for Enbrel in psoriasis at a February meeting of the American Dermatological Association.

In recent trading, shares of Immunex were up 73 cents, or 2.6%, to $28.39.