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Celgene Psoriasis Drug Meets Midstage Study Goal

From Associated Press (December 15, 2009)

SUMMIT, N.J.--Biotechnology company Celgene Corp. said Tuesday its experimental psoriasis treatment, apremilast, met key goals in a midstage clinical trial.

The company said apremilast reduced the severity of moderate-to-severe psoriasis during the study. Specifically, 41 percent of patients receiving the 30-milligram dose met treatment goals, compared with only 6 percent taking placebo.

Psoriasis is a chronic inflammatory skin condition, with symptoms including redness and irritation.

Celgene said results from the study support a move to advance the drug candidate to late-stage development in 2010.

Shares of Celgene fell 41 cents to $53.47 in midday trading.

Posted: December 2009