Biotech Values

[DewDiligence]

FDA approves BMY’s Sotyktu (deucravacitinib) for psoriasis:

https://investors.bms.com/iframes/press-releases/press-release-details/2022/U.S.-Food-and-Drug-Administration-Approves-Sotyktu-deucravacitinib-Oral-Treatment-for-Adults-with-Moderate-to-Severe-Plaque-Psoriasis/default.aspx

The label does not include JAK-like black-box warnings or usage restrictions, validating BMY’s contention that Sotyktu's TYK2 target is well differentiated from JAK1/2/3.

BMY expects eventual Sotyktu approval in other autoimmune indications and foresees peak annual sales of at least $4B.