China approves J&J's oral psoriasis pill, says drugmaker

SHANGHAI, Aug. 27 (Reuters) - China’s drug regulator has approved Johnson & Johnson’s JNJ.N oral pill for psoriasis, the company said on Thursday, intensifying competition in the world’s second-largest pharmaceutical market with rivals including Bristol Myers Squibb BMY.N and AbbVie ABBV.N.

Psoriasis, a chronic autoimmune condition that causes itchy, scaly, and inflamed patches of skin, affects more than 8.4 million patients in China, according to J&J. Other treatments include its own Tremfya, Bristol Myers’ Sotyktu and AbbVie’s Skyrizi.

Wall Street analysts have said J&J’s drug, Icotrokinra, has "blockbuster potential" as a safe and effective oral medication and that the once-daily medication could capture significant market share from injectables, such as Skyrizi and Tremfya.

It was approved in China for moderate-to-severe plaque psoriasis, J&J said in a statement. A spokesperson for J&J did not immediately respond to a request for comment outside business hours on availability, pricing or sales expectations for the local market.

Other drugmakers including China’s Innocare Pharma 688428.SS and Japan’s Takeda Pharmaceutical 4502.T are also developing experimental oral treatments in a global market largely dominated by injectables.