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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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2015 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2015. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2015 and/or its affiliates.