Celgene Corp.'s second quarter beat analyst consensus, but while Otezla (apremilast) revenue increased year-over-year, sales came in slightly lower than analyst consensus. While the company said it remains confident in the drug, it may no longer pursue inflammatory bowel disease (IBD) indications.
Celgene Maintains Otezla Confidence, But Is Reconsidering IBD Indications
Second quarter Otezla sales came in slightly lower than consensus, but Celgene believes changes in inventory levels will smooth out for the remainder of 2018. However, the company is reconsidering its pursuit of IBD indications for Otezla in deference to its potential blockbuster ozanimod.
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