$2.9 billion in sales forecast for BMS' Sotyktu by 2029

The recent European Commission approval for Sotyktu (deucravacitinib), US pharma major Bristol Myers Squibb’s (NYSE: BMY) first-in-class, selective, allosteric tyrosine kinase 2 (TYK2) inhibitor for adults with moderate-to-severe plaque psoriasis (PsO), has elicited comment from data and analytics firm, GlobalData.

Representing a new class of small molecules with a unique mechanism of action, Sotyktu is set to become a blockbuster for the treatment of PsO with a global sales forecast of $2.9 billion by 2029, according to GlobalData. BMS itself is even more optimistic, forecasting sales of the drug, which was approved in the USA in September 2022, will reach $4 billion by 2029.

BMS acquired Sotyktu along with its acquisition of Celgene in 2019 for $74 million, and opted to keep it rather than already-approved Otezla (apremilast) which, because of competition issues, was sold on to Amgen (Nasdaq: AMGN) for $13.4 billion.