HORSHAM, Pa. (AP) Johnson & Johnson's Janssen Biotech said Thursday that it asked regulators in the U.S. and the European Union to approve its drug Stelara as a treatment for psoriatic arthritis.
The company said about 2 million people in the U.S. and 4.2 million in Europe have the condition. It is an autoimmune disease that causes joint inflammation and psoriasis skin lesions.
Stelara was approved in 2009 as a treatment for psoriasis. Over the last 12 months sales have grown 48 percent to $963 million.
Shares of Johnson & Johnson rose 15 cents to $70.12 in morning trading.