Celgene Corporation ( CELG ) presented encouraging data on its marketed drug, Otezla, for treating patients suffering from moderate-to-severe plaque psoriasis at the 23rd European Academy of Dermatology and Venereology (EADV) Congress in the Netherlands.

Celgene evaluated the effect of Otezla on health-related quality of life measures and work productivity/work limitation in the patient population through the analyses of the phase III ESTEEM clinical trial program. The program included two large pivotal randomized, placebo-controlled studies - ESTEEM 1 and ESTEEM 2. Analysis of the ESTEEM 2 study revealed a significant improvement in the health-related quality of life in patients treated with Otezla after 16 weeks compared to those in the placebo arm. Moreover, data from a pooled analysis of ESTEEM 1 and ESTEEM 2 at week 16 revealed significant increase in work productivity and improvement with respect to work limitations in patients treated with Otezla (30 mg: twice a day) compared to those in the placebo arm.

We remind investors that Otezla was cleared by the FDA last month for treating patients suffering from moderate-to-severe plaque psoriasis (read more: Celgene's Otezla Label Expanded to Include Plaque Psoriasis ). This was the second indication for which Otezla gained FDA approval. In March this year, Otezla was approved in the U.S. for treating adults with active psoriatic arthritis.

Otezla, the latest member of Celgene's product portfolio, contributed only $5 million to the biopharmaceutical company's top line in the second quarter of 2014. Nevertheless, we expect the drug to perform impressively in the third quarter, results of which will be reported on Oct 23.

Celgene carries a Zacks rank # 3 (Hold). Better-ranked stocks in the health care space include Shire ( SHPG ), Medivation ( MDVN ) and Regeneron Pharmaceuticals ( REGN ). Shire and Medivation sport Zacks Rank #1 (Strong Buy) while Regeneron is a Zacks Ranked #2 (Buy) stock.

CELGENE CORP (CELG): Free Stock Analysis Report

REGENERON PHARM (REGN): Free Stock Analysis Report

MEDIVATION INC (MDVN): Free Stock Analysis Report

SHIRE PLC-ADR (SHPG): Free Stock Analysis Report

To read this article on Zacks.com click here.

Read more from the original source:

Celgene's Otezla Encourages in Plaque Psoriasis at EADV - Analyst Blog