Celgene's psoriasis drug gets approval for new indication

[September 24, 2014] (Reuters) - Celgene Corp said the U.S. Food and Drugs Administration has approved the expanded use of its drug Otezla for treating patients with moderate to severe plaque psoriasis.The drug, known chemically as apremilast, is already approved for treating psoriatic arthritis, a type of arthritis associated with the skin disease.

The drug is also being studied as a potential treatment for a type of spondylitis.

Celgene forecast in March annual Otezla sales of $1.5 billion to $2 billion by 2017.

Psoriasis is a chronic inflammatory disease of the skin resulting from an uncontrolled immune response.

Shares of Celgene closed at $93.12 Tuesday on the Nasdaq.

(Reporting by Shailesh Kuber in Bangalore; Editing by Don Sebastian)

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