Celgene's arthritis drug fails to meet expectations for additional use

July 9, 2014 2:37 PM

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Shares of Celgene slipped in premarket trading today after the Summit-based drugmaker said its psoriatic arthritis treatment Otezla missed the main goal of a late-stage study exploring an additional use.

The company said Otezla did not achieve a statistically significant improvement when compared to a placebo in a study of patients with a painful spinal joint disorder called ankylosing spondylitis. But the drug did show signs of effectiveness in patients with early stages of the disease who took Ote...

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