Celgene Corporation CELG announced that encouraging data from its ongoing phase III LIBERATE study evaluating Otezla for patients with moderate-to-severe plaque psoriasis were presented at the European Academy of Dermatology and Venereology congress.
The LIBERATE study is comparing the efficacy and safety of either oral Otezla 30 mg twice daily or a weekly subcutaneous (SC) infusion of Amgen’s AMGN Enbrel (etanercept) 50 mg with placebo in patients who had no prior exposure to biological therapy.
Per one-year data, 51% of patients in the Otezla arm at baseline and 55% of patients switching from Enbrel to Otezla at week 16 achieved Psoriasis Area and Severity Index (PASI)-75 at week 52. Additionally, improvements in itching were maintained from week 16 to week 52 in both patient groups – those who received Otezla from baseline and those who switched from Enbrel to Otezla at week 16.
We remind investors that earlier this year, the company had reported positive data from the LIBERATE study at week 16.
The FDA has cleared the drug for the treatment of adult patients with active psoriatic arthritis (Mar 2014) and for the treatment of patients with moderate-to-severe plaque psoriasis who are candidates for phototherapy or systemic therapy (Sep 2014).
In the first half of 2015, Otezla sales came in at $150 million. The drug is also being developed for additional indications like active Behçet's disease and ulcerative colitis. Further label expansion of the drug will boost sales. Celgene expects the drug to generate blockbuster revenues.
Celgene carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the health care sector include Anika Therapeutics Inc. ANIK, Amgen and Eli Lilly and Company LLY. Anika and Amgen hold a Zacks Rank #1 (Strong Buy), while Eli Lilly is a Zacks Rank #2 (Buy) stock.
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