A late stage clinical trial has returned favorable results for patients receiving an experimental arthritis treatment from Celgene (CELG).
The study showed that sufferers of psoriatic arthritis who were given 20 milligram and 30 milligram doses of apremilast reported a significant reduction in symptoms after four months of taking the drug. Further improvement was shown in patients who remained on the drug for a year. Results of the trial will be unveiled at an upcoming meeting of the American College of Rheumatology, Reuters notes.
Celgene is seeking U.S. Food and Drug Administration (FDA) approval for apremilast, which is taken orally. The treatment would be marketed against injectable arthritis treatments, which can suppress the immune system, leading to potentially serious complications. By contrast, apremilast has not shown any side effects beyond headaches, diarrhea and nausea.
The company has said it would sell $6 billion worth of drugs this year, making it a favorite among Wall Street analysts.
Shares of Celgene rose modestly in Monday morning trading.