FDA approves Abbott drug for psoriasis

Humira approved to treat psoriasis, says Abbott; extra indication could add $500M to blockbuster's sales, analyst sales.

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By Aaron Smith, CNNMoney.com staff writer

NEW YORK (CNNMoney.com) -- The FDA approved Abbott's blockbuster drug Humira for yet another indication, psoriasis, the drugmaker said Friday.

The extra indication could add at least $500 million in annual sales to Humira, which is expected to total $3 billion in 2007, said Phillip Nalbone, analyst for RBC Capital Markets, who was interviewed just prior to the announcement.

Humira was already approved to treat psoriasis in Europe. In the U.S., Humira was already approved to treat four other diseases, including rheumatoid arthritis, psoriatic arthritis, an inflammation of the digestive tract called Crohn's disease and a spinal inflammation called ankylosing spondylitis.

Abbott (ABT, Fortune 500) made the announcement after the close of trading.

Abbott is the fourth-largest U.S. drugmaker in terms of annual sales, behind Johnson & Johnson (JNJ, Fortune 500), Pfizer (PFE, Fortune 500) and Merck (MRK, Fortune 500). To top of page

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.