Celgene's spondylitis drug misses main goal in trial

July 9, 2014 11:40 AM

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(Reuters) - Celgene Corp said a drug being tested to treat a type of arthritis that affects the spine failed to meet the main goal in a late-stage trial, sending the company's shares down 3 percent premarket.

The drug, Otezla, failed to show improvement of at least 20 percent at week 16 when tested on patients with ankylosing spondylitis, or arthritis of the spine, compared to those on a placebo, the company said. [ID:nBw6S6bVra]

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