China’s drug regulator has approved Johnson & Johnson’s Icotrokinra for moderate-to-severe plaque psoriasis, expanding treatment competition in the world’s second-largest pharmaceutical market. The chronic autoimmune condition affects more than 8.4 million patients in China, according to J&J. Wall Street analysts have described Icotrokinra as having "blockbuster potential" because it is a potentially safe and effective once-daily oral medication that could take market share from injectable treatments such as AbbVie’s Skyrizi and Johnson & Johnson’s Tremfya. Bristol Myers Squibb’s Sotyktu is another competing treatment. J&J did not immediately provide details on the pill’s availability, pricing or local sales expectations. China’s Innocare Pharma and Japan’s Takeda Pharmaceutical are also developing experimental oral treatments in a global psoriasis market largely dominated by injectables.