Innovation Pharmaceuticals Inc (IPIX)

[georgejjl]

Celgene is definitely interested in buying Prurisol and/or all of Innovation Pharmaceuticals!!!

Prurisol is a strong potential competitor to both Celgene's Otezla and and Revlimid, because Prurisol is a potent inhibitor to interleukin 20.

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Celgene’s oral psoriasis drug, Otezla (apremilast) looks set to become a blockbuster as sales leapt in Q2.

Sales of Otezla were $242 million in Q2, a 170% increase compared with the corresponding period last year.

Otezla, approved in plaque psoriasis and psoriatic arthritis, performed the strongest in the US revenues of $217 million.

US-based Celgene is also developing Otezla in atopic dermatitis and is assessing proof-of-concept data from a completed phase 2 trial, to be announced at a later date.

For now the company’s flagship blood cancer drug, Revlimid (lenalidomide) continues to power ahead, with sales up 18% to $1.7 billion for the quarter.

Celgene revised sales forecasts for Revlimid up slightly, to $6.8 billion for the whole year, although the growth is expected to decelerate – so the strong showing from Otezla will be most welcome.

The company raised its guidance for overall product sales up a notch to $11 billion for 2016 – previous estimates were between $10.75 billion and $11 billion.

http://pharmaphorum.com/news/celgenes-otezla-course-become-blockbuster/

Good luck and GOD bless,

George