Although not life-threatening, psoriasis can be psychologically devastating.

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While a new treatment for psoriasis could be of value for these patients, this is probably not the type of breakthrough that GSK originally envisioned when they did this deal.

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Walsh says this was the first efficacy data for Raptiva, and so long as the problem in the rheumatoid-arthritis study was effectiveness, not safety, it shouldn't worry investors focused on Raptiva's near-term approval to treat psoriasis.

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