Celgene continues to see positive results for blockbuster hopeful Ozanimod

Celgene ($CELG) says that its blockbuster hopeful Ozanimod continued to score well against a placebo arm during the maintenance phase of a trial for ulcerative colitis. The 103 patients who had achieved a clinical response after 8 weeks of therapy continued treatment for an added 24 weeks, and 21% in the 1-mg drug arm achieved or maintain remission at 32 weeks--compared to 6% in the placebo arm. Celgene acquired Ozanimod in its $7.2 billion Receptos buyout last July. The Phase III program is expected to read out in 2017, setting up what Celgene hopes will be an approval for a drug that could earn up to $6 billion a year. Release

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