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Daily Archives: November 22, 2020
Posted: November 22, 2020 at 9:51 pm
Sports betting and online gaming could eventually become a $40 billion business as more people take to their phones to wager on their favorite sports teams and play online casino and fantasy games, according to one analyst at Piper Sandler.
Already in New Jersey, one of the most mature sports betting markets outside Nevada, sports betting generated $300 million in revenue for fiscal 2019, 82% of it online, according to Piper Sander analyst Yung Kim.
The analyst initiated coverage of Penn National (ticker: PENN) with an $84 price target and DraftKings (DKNG) with a $58 price target, giving them both Overweight ratings.
Shares of Penn National fell 0.16% on Friday but are up more than 175% this year. DraftKings fell 3% but are up 349% for the year. The S&P 500 is up 10.5%.
Just days ago Loop Capital Markets analyst Daniel Adam started coverage of DraftKings with a Buy rating and a $100 price target. The stock currently trades around $48. He estimated the potential online sports betting and igaming market could get to around $30 billion, versus current expectations of $20 billion.
DraftKings raised its 2020 outlook this month, saying it expected record revenue in a range of $540 million to $560 million for the year, which is up from $500 million to $540 million. It expects 2021 revenue in a range of $750 million to $850 million.
The Piper analyst said DraftKings fantasy sports offering has helped it build a brand that can gather a significant share of the market.
We look for DraftKings to transition the >4M paying users in its database of daily fantasy sports players to both sports betting and igaming, Kim said.
Nevada, the U.S. gambling epicenter, handled $5.3 billion in sports bets last year, according to legalsportsbetting.com, but legal sportsbooks have spread to other states in the past few years after a 2018 Supreme Court decision allowing it.
There are 25 states and the District of Columbia that allow legal sports betting but only 15 states (and D.C.) have online options. Pipers Kim says the online sports betting market could grow to $11 billion from $3 billion now, with 65% of the U.S. population using legal mobile betting apps.
The online gaming market could also explode to about $7 billion, Kim said.
There are three levers here: percentage of U.S. population living in a state with legal sports betting and/or igaming, average revenue per person in the state and market share attained by competitors, the Piper Sandler analyst said in a note.
Penn National took a sizable stake in Barstool Sports earlier this year and announced earlier this month it was opening its first retail Barstool sportsbook at the Ameristar Casino Resort Spa Black Hawk near Denver.
Pipers Kim said Penn could find new sources of revenue through Barstool, which has 66 million monthly users and officially rolled out its Pennsylvania sportsbook app in September, with 60,000 downloads. We view the early results as a strong start, Kim said.
Write to Liz Moyer at firstname.lastname@example.org
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Affordability Thresholds to be Lowered to Pragmatic Levels in New UKGC Review – Online Casino Reports
Posted: at 9:51 pm
Published November 22, 2020 by Lee R
The perceived stringency of the new review is a solution to longer term harsh measures direct from Parliament.
The affordability of gambling in the UK is the latest initiative for which the UK Gambling Commission UKGC is seeking stakeholder consultation.
The 10-week consultation is set to welcome both industry members and consumer feedback on regulatory reform.
The key initiative under consideration is a new 100 ($130) per month affordability threshold for all UK customers.
Long Term Solution
The Commission seeks to introduce new regulation ahead of impending Parliamentary review of the Gambling Act of 2005 currently governing play as a greater solution for avoiding more intense long-term Parliamentary restrictions.
Previous Consultation Benefits
An earlier similar consultation into VIP betting in the UK resulted in the establishment by the UKGC of a series of required checks before an operator makes a customer a VIP--including origin of funds; occupation and identity verification, with operators further called upon to assign a senior executive with personal responsibility for ensuring customer safety in VIP schemes.
Protecting Consumer Spend
The new requirements under review are designed to inform the new UKGC thresholds which will serve affordability measures to protect vulnerable players from gambling too much of their money.
Time Limits to be Discussed
Other key protections to be discussed in the coming review include the mandatory time limit for gambling after which customers will be alerted.
While acknowledging operator efforts for customer protection, the UKGC is calling for new restrictions to bring the whole industry into line.
In a prepared statement, UKGC executive director Tim Miller said of customer interaction processes:
We are clear on the need for gambling companies to take further action and that the Commission must set firm requirements to set consistent standards.
UKGC's New Data
Current consultation documents published by the Daily Telegraph last week indicate UKGC's characterisation of thresholds of tens of thousands of pounds ineffective in combating gambling-related harm' while calling a 2,000 limit neither realistic nor appropriate.
Upon further review of evidence-based research, the documents revealed that the Commission is leaning towards loss limits as low as 100 per calendar month to launch the interventions under discussion.
The use of data to inform legal restrictions looks like the key component that can inform UKGC policy and legitimize what might other seem like harsh restrictions for operators.
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Posted: at 9:51 pm
The casino industry stood still for a long time. In regards to slots, there werent that many changes or new things. However, it was apparent that the number of players has diminished over time. This was the trend until slots and casinos moved online.
Online casinos brought a lot of new things to players. This impacted some significant shifts in the casino slots industry. In fact, the growing number of new slots, varieties, different play styles, themes, and overall innovation has brought in a lot of new players.
Ultimately, the online slots industry became larger than traditional casinos that havent offered anything new in ages. Here are some of the current trends that are popping out in this industry.
The global casino industry has taken a massive hit with the coronavirus. All industries have been affected by this pandemic and casinos arent immune. In fact, the casino slots industry has suffered a lot. Traditional casinos have been shut down completely in many countries around the world.
This means that they havent had a single player enter their premises. Even after the government regulations have loosened and allowed casinos to operate, the number of players has declined seriously compared to before the pandemic.
Physical locations are declining across the board in countries all over the world. In some cases, its due to measures to contain the virus. In other cases, people simply dont want to go to crowded rooms where they might catch the virus from someone else.
While physical casinos are struggling yet again, online casinos are getting more players than ever. People are spending more time in their homes, and they have the time to play their favorite games. At the same time, players that liked going to casinos have switched to online options.
A report by Optimove says that online casinos have 43% more Poker players on a daily basis since the pandemic has started. But this is just one game.
In reality, online casinos have seen a gradual increase in players but this further shows how strong the online casino industry is. At the same time, online casinos like Caesars Slots report a rapid growth of first-time players.
One of the reasons why online casinos have beaten traditional brick-and-mortar casinos is the industrys constant effort for growth and innovation. Luckily, these digital transformations havent stopped even during the coronavirus pandemic.
One of the latest trends in the industry is the implementation of blockchain technology in online casinos. Online casinos can move their financial documents to blockchain ledgers that can be accessed by their partners or people working for the casino.
This makes their finance management a lot easier. At the same time, blockchain guarantees security and stable transactions. Also, casinos are starting to use blockchain smart contracts to verify transactions and make every players account transparent.
In the end, casinos adopt blockchain to allow players to pay with and withdraw digital currencies, including Bitcoin, Ethereum, Dogecoin, and so on.
AR is quickly becoming mainstream technology. Its been widely adopted for video games, and now its entering the casino games industry. This technology has the potential to make casino games even more exciting and realistic. AR will bring that immersiveness to online casino players.
Simply put, it has the potential to bring all of the benefits of the traditional casino experience into online casinos. For example, when playing games like bingo, players will be able to see each other, communicate, and feel like they are sitting with each other.
All of this from the comfort of their home! At the same time, the implementation of this technology will probably bring new and innovative casino games with better graphics, animations, effects, and a unique playing style.
If you want to learn more about the development of the online casino industry, read: http://www.bullz-eye.com/2020/03/17/the-amazing-development-of-online-gambling/.
Even though online casinos have only been around for two decades, they are constantly innovating and introducing new features. Virtual reality is a brand new technology thats only starting to find its way in various industries. Even so, there are already a couple of online casinos that have VR games.
However, as more players start getting VR headsets, the amount of VR support casinos offer will also grow exponentially. This gives the potential for creative casino settings, a themed atmosphere, and fun gaming experiences.
As you can see, the online casino industry isnt lagging behind in any way. There are constantly new things coming out. This is why so many players around the globe enjoy these games. We cant wait and see how the industry will look in the next five years.
Have any thoughts on this? Let us know down below in the comments or carry the discussion over to ourTwitterorFacebook.
Posted: at 9:50 pm
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Posted: at 9:50 pm
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Gaming Innovation Group Inc. (GiG) has today signed a long-term agreement with existingcasino client K.A.K. DOO Skopje, hospitality, tourism and services company (K.A.K.) for the provision of GiGs sportsbook, including online, over the counter (OTC), omnichannel and on premise sport solution to launch both their digital and land-based sports betting operation in the regulated North Macedonian market.
K.A.K. and Gaming Innovation Group signed a long-term agreement in September this year for the provision of GiGs platform, frontend solution and managed services to power K.A.K.s digital casino transformation. Todays additional agreement follows K.A.K. s decision to enter into Macedonias growing sports betting market under their own license, allowing up to an initial 25 physical sites across the country as well as online operations.
Gaming Innovation Group will provide K.A.K. with its end-to-end sportsbook, delivering an online offering as well as a physical offering through GiGs over the counter, omnichannel retail solution. Through GiGs partnership with Betgenius, end-to-end live data, trading and risk management services will also be delivered as part of the agreement. This allows K.A.K. to offer its customers official sports betting content from over 300 competitions including the English Premier League, Serie A and EuroLeague basketball.
The agreement is based on a combined fixed fee and revenue share structure.The sports offering is expected to go-live in Q2, 2021, and is expected to make a positive contribution to GiGs revenues from H2 2021 onwards.
Ognjan Cigovski, Chief Executive Officer of K.A.K. DOO Skopje says: Our recent decision to expand into both the retail and online sportsbook market was a natural step for us, building on our successful land-based casino activities and we see it as a very exciting proposition. We can now offer our customers a full suite of products across multiple locations as well as online. We are excited to partner with GiG on this venture whos product and service offering were a great fit for what we want to achieve in the local Sportsbook space
Richard Brown, Chief Executive Officer of GiG says, I am very pleased to expand our partnership with K.A.K, they have secured a local sports betting license and have exciting growth plans which are highly complementary to their existing premier retail casino presence in the country. By adding our online and OTC sportsbook technology offering to the online casino also powered by GiG, K.A.Ks end users will have a seamless end-to-end experience. We are very much looking forward to working with them to deliver a great product to the local market.
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Posted: at 9:50 pm
Pennsylvania now has a 13th retail sportsbook with Wind Creek Bethlehem adding one this week, and its partner Betfred USA Sports will soon provide the 11th online/mobile option in the state.
Wind Creek quietly had a test period for the physical sportsbook Monday and Tuesday, and it announced Wednesday morning that it had received Pennsylvania Gaming Control Board approval for permanent operations.
Opening the sportsbook at Wind Creek Bethlehem provides yet another exciting gaming opportunity for our guests, Jay Dorris, Wind Creek Hospitality president and CEO, said in a press release. Partnering with Betfred USA Sports will allow us to bring a first-class sports betting experience in a high energy environment to the property.
Wind Creek is the last of Pennsylvanias large casinos to enter the sports betting market, which requires paying a $10 million licensing fee. Only Lady Luck Nemacolin in Fayette County, the states smallest casino, lacks a retail sportsbook or online partner.
The gaming board reported Tuesday that the states sports betting handle in the month of October amounted to a record $525.8 million, with gross taxable revenue from it (the amount lost by bettors) of $36.8 million.
When Wind Creek won sports betting licensure approval from the gaming board in June, its general manager said it expected Betfreds digital operation to start before the retail sportsbook opened. That has turned out not to be the case.
Wednesdays press release said to expect the launch of the online sportsbook powered by Betfred Sports in the Wind Creek Casino mobile applications in the coming weeks.
Betfred is a longtime British-based sportsbook that created a U.S. subsidiary and is already operating in tandem with casinos in Iowa and Colorado. It operates more than 1,500 betting shops in Great Britain.
Pennsylvania is a massive sports betting market, and we look forward to making Wind Creek Bethlehem a go-to destination for sports bettors, Betfred USA Sports COO Bryan Bennett said in the press release. He added in an interview, I dont think weve reached the apex of how big Pennsylvania can be, in terms of future growth now that the statewide monthly handle has surpassed a half-billion dollars.
The sportsbook occupies space in the casino that was formerly Buddy Vs Ristorante. It has two video walls, 31 individual TVs, three betting windows, eight self-service kiosks, and a pub for dining and drinking.
While the casino is hosting a grand opening for invited guests at the sportsbook Saturday, Betfreds soon-to-launch mobile component will see far more betting action. About 90% of Pennsylvanias betting handle comes digitally instead of in person.
Bennett told Penn Bets that the company would have liked to launch online by now, but with COVID, everything has just taken a little longer than originally anticipated. He said he is hoping Betfred will be available digitally by years end sharing the play.windcreekcasino.com website that provides the casinos iGaming component, but the timing will depend on the state approval process.
The British operator will face a crowded market of better-known online operators. The Barstool Sportsbook of Penn National Gaming just arrived in September as the newest site, placing third in betting volume behind national titans FanDuel and DraftKings. The seven other digital sites combined claim less than one-fourth of the market.
Bennett said Betfred has always relied on an image of providing the best value to the bettor, and it is counting on its path into the Pennsylvania market being greased by the association with Wind Creek, the second-largest revenue generator among the states casinos.
Well start out by leveraging the retail sportsbook space and converting players over to the online book, he said. Im sure a number of them are already betting online with competitors, and our first order of business is to convert them over.
In addition, BetMGM recently won licensing approval to provide sports betting in Pennsylvania, although it is unclear when and how it will do so. It would need to form a partnership with an existing Pennsylvania casino as its sports betting provider, and the casinos with sports betting licenses all already have relationships.
While Wind Creek is the newest retail sportsbook in the state, it will not be the last.
The new Live! Pittsburgh mini-casino opening to the public next Tuesday in Westmoreland County has a FanDuel sportsbook, and the Live! Philadelphia property to open in early 2021 will also have one.
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Characteristic of Chronic Plaque Psoriasis Patients Treated with Biologics in Italy during the COVID-19 Pandemic: Risk Analysis from the PSO-BIO-COVID…
Posted: at 9:50 pm
This article was originally published here
Expert Opin Biol Ther. 2020 Nov 20. doi: 10.1080/14712598.2021.1853698. Online ahead of print.
Background The susceptibility of patients with chronic plaque psoriasis and the risks or benefits related to the use of biological therapies for COVID-19 are unknown. Few data about prevalence, clinical course and outcomes of COVID-19 among psoriatic patients were reported. The aims of this study were 1) to assess the prevalence and severity of COVID-19 in psoriatic patients treated with biologic agents during the first phase of the emergency (22 February to 22 April 2020) in Italy, and 2) to report the clinical outcomes of patients who have been exposed to individuals with confirmed SARS-CoV-2 infection. Methods Patients with moderate-to-severe chronic plaque psoriasis, aged 18 years and undergoing treatment with biologic agents as of 22 February 2020, were eligible to be included in PSO-BIO-COVID study. Demographic and clinical characteristics of patients using any biologic for psoriasis treatment between 22 February and 22 April 2020 were registered. For all confirmed or suspected cases of COVID-19, data about concomitant disease, ongoing therapies, and comorbidities were also reported. Results A total of 12,807 psoriatic patients were included in the PSO-BIO-COVID study. In this cohort twenty-six patients (0.2%) had a swab confirmation of SARS-CoV-2 infection. Eleven patients required hospitalization and two died. 125 of 12807 patients (1.0%) with exposure to a patient with COVID-19 under quarantine or active health surveillance, were reported. Conclusion The incidence of COVID-19 observed in our cohort of psoriatic patients (0.2%) is similar to that seen in the general population (0.31%) in Italy. However, the course of the disease was mild in most patients. Biological therapies may likely lessen cytokine storm of COVID-19, which sometimes lead to multiple organ failure, ARDS, and death.
PMID:33216643 | DOI:10.1080/14712598.2021.1853698
IL-23 Inhibitors Take Over the US Psoriasis Switching Market at the Expense of the IL-17 and TNF Inhibitors – PRNewswire
Posted: at 9:50 pm
EXTON, Pa., Nov. 17, 2020 /PRNewswire/ --The 2020 audit included in Spherix's RealWorld Dynamix: Biologic/Small Molecule Switching in Psoriasis (US) service focuses on a critical facet of overall therapy prescribing for plaque psoriasis (PSO) patients advanced therapy switching. The study captures the myriad of data surrounding the process by which PSO patients are switched from one biologic/small molecule agent to another.
Since the introduction of AbbVie's Skyrizi in April 2019, switch-to share for the IL-23 inhibitor class has nearly tripled. The newest market entrant now garners the greatest switch-to rate among all commercial biologics in PSO and has made great strides in the second- and third-line setting compared to 2019.
Which brands are taking the biggest hit? Two biologics in particular who once held their position as leaders in the market year over year, Novartis' Cosentyx and AbbVie's Humira, have seen consecutive declines in switch-to share since the introduction of Skyrizi.
However, the AbbVie portfolio remains strong, as patients who were switched to Skyrizi often switched from sister brand Humira offsetting any deficits the TNF inhibitor experienced. Of note, the percent of current Skyrizi patients being switched from Amgen's Otezla (a commonly used first-line agent in addition to the TNF inhibitors) has substantially increased from the prior year. This, coupled with the fact that switches from IL-17 inhibitors (which are more commonly used in later lines of therapy) are decreasing, suggests that Skyrizi is being prescribed earlier in the treatment algorithm.
The Spherix study, which assesses reasons behind prescribing behavior, found that efficacy in both skin and joints remains a top reason for current brand selection in PSO, highlighting the importance of treating psoriatic disease. Although IL-17 inhibitors are prescribed more often than IL-23 inhibitors when joint involvement is a factor, the IL-23 class is gaining momentum. In July 2020, Janssen's Tremfya became the first IL-23 inhibitor to gain FDA approval for the treatment of moderate to severe psoriatic arthritic (PsA).
Indeed, nearly one-third of Tremfya patients included in the study present with any joint symptoms, a figure that is not far off from the rates seen in patients being treated with IL-17 inhibitors. The audit also found that considerably more PSO patients overall present with mild joint involvement than moderate to severe indicating the "mild PsA" patient segment in PSO presents a greater opportunity for brands to capture more share.
When examining the switch-to brand based on the severity of joint involvement, the IL-23 inhibitors are being prescribed more often for patients with concomitant mild PsA than moderate to severe and that number has grown since the prior year. On the other hand, slightly less PSO patients with mild joint involvement were switched to an IL-17 inhibitor, and that figure has declined year over year.
As the PSO market is expected to further expand in 2021 with UCB's bimekizumab, a dual IL-17A and IL-17F inhibitor, switching market dynamics are likely to continue shifting. In fact, the majority of PSO patients are considered potential candidates for bimekizumab (pending approval) should their current switch-to agent deem unsuccessful followed by Eli Lilly's pipeline IL-23 inhibitor, mirikizumab.
Patients currently prescribed TNF and IL-17 inhibitors are more likely to be considered for bimekizumab than patients being treated with other mechanisms of action. Interestingly, patients currently on an IL-23 inhibitor are more likely to be considered for mirikizumab, while current Otezla patients are more likely to be considered for other oral agents, such as BMS' TYK2 inhibitor, deucravacitinib highlighting further in-class competition in the PSO switch market.
About RealWorld DynamixRealWorld Dynamix: Biologic/Small Molecule Switching in Psoriasis (US) is an independent, data-driven service unmasking real patient management patterns through annual reports based on chart audits of ~1,000 patients. The report uncovers the "why" behind treatment decisions, includes year over year trending to quantify key aspects of market evolution, and integrates specialists' attitudinal & demographic data to highlight differences between stated and actual treatment patterns.
About Spherix Global InsightsSpherix Global Insights is a hyper-focused market intelligence firm that leverages our own independent data and expertise to provide strategic guidance, so biopharma stakeholders make decisions with confidence. We specialize in select immunology, nephrology, and neurology markets.
All company, brand or product names in this document are trademarks of their respective holders.
For more information contact:Kristen Henn, Business Development ManagerEmail:[emailprotected]www.spherixglobalinsights.com
SOURCE Spherix Global Insights
Posted: at 9:50 pm
Brandi Glanvilleisan open book. From her dating life to friendship quarrels to thecosmetic procedures she's had done, The Real Housewives of Beverly Hills alum has never heldback details on her experiences. Now, she's opening up about a part of her life we've rarely seen.
On November 13, Brandi shared a photo of herself on Instagram, but this wasn't her usual glammed-up selfie. The snap showed a very raw and real look at Brandi's struggle with Psoriasis. Brandi appeared to be going through a flare-up from the skin condition on her face.
"For Friday the 13th Im sharing something scary!" she wrote. "Psoriasis taking over my face & Im depressed about. Thank God for masks."
According to the National Psoriasis Foundation, Psoriasis is an immune-mediated disease that causes raised, scaly patches to appear on the skin. Celebs Kim Kardashian West and LeAnne Rimes, who is married to Brandi's ex-husband, Eddie Cibrian, have also opened up about living with the skin condition.
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Posted: at 9:50 pm
Data indicate that psoriasis is one of the most common immune-mediated disorders, affecting approximately 0.5% to 11.4% of adults worldwide and significantly impacting patients quality of life. Other research suggests that colorectal cancer (CRC) is one of the leading causes of cancer-related mortality and the fourth most commonly diagnosed cancer in both men and women worldwide (900,000 deaths and 1.8 million new cases annually according to the WHO). With psoriasis and CRC both related to immune-mediated chronic inflammation and interleukin-17 shown to be involved in the pathogenesis of psoriasis and initiation of CRC, it has been hypothesized that patients with psoriasis are at increased risk for comorbid CRC. However, the relationship between the two conditions remains unclear.
A Systematic Review & Meta-analysis
To appraise the evidence on the relationship between psoriasis and CRC, Ching-Chi Chi, MD, MMS, DPhil, FAAD, and colleagues conducted a systematic review and meta-analysis of observational studies that examined this association, publishing their results in the Journal of the American Academy of Dermatology. We searched MEDLINE and Embase on March 24, 2020 for relevant studies, explains Dr. Chi. Included studies provided data on the risk for CRC and had a case group of patients with psoriasis and a control group of patients without psoriasis. Nine cohort studies with more than 10.5 million subjects were included.
The Newcastle-Ottawa scale was used to evaluate the risk of bias of included studies, and we conducted random-effects model meta-analysis and subgroup analysis based on gender, notes Dr. Chi. When relevant data were available, the study team conducted meta-analysis on the risk for colon cancer and rectal cancer, as CRC is composed of both. Meta-analyses were only conducted when there were at least three included studies for a given outcome, with the researchers applying the random-effects model due to the expectation of clinical heterogeneity across the included studies.
Significantly Increased Colorectal Cancer Risk
Eight studies that provided data for the meta-analysis demonstrated an increased risk for CRC in patients with psoriasis (Table). We found a significantly increased risk for CRC in patients with psoriasis upon meta-analysis, with patients with psoriasis having a 16% greater risk for CRC than the general population, says Dr. Chi. Subgroup analysis for rectal and colon cancer provided similar results. Five studies providing data on risk for colon cancer found significantly increased risks among patients with psoriasis when compared with controls (HR, 1.14; 95% CI, 1.05-1.24). Three studies reporting data on rectal cancer risk found an increased, but not significantly increased, risk among patients with psoriasis when compared with controls (HR, 1.18; 95% CI, 0.99-1.41). No statistical heterogeneity was seen across the eight, five, or three studies in each of these meta-analyses.
Subgroups analysis based on gender found significantly increased risk for CRC in female patients with psoriasis across five included studies (HR, 1.41; 95% CI, 1.16-1.72) but not in male patients with psoriasis across five included studies (HR, 1.18; 95% CI, 0.92-1.50), notes Dr. Chi.
While the cohort studies in the meta-analysis and other reviews indicate that patients with psoriasis have an increased risk for colorectal cancer, the pathogenesis between psoriasis and CRC remains ambiguous, says Dr. Chi. More studies are warranted to confirm if psoriasis and CRC share genetic susceptibility, molecular defect and microbiota imbalance. In the meantimewith patients with early stage colorectal cancer initially exhibiting no symptoms, the possible fatal risk of late-stage colorectal cancer, and evidence that early CRC diagnosis improves survivalhe suggests that gastroenterology consultation and detailed colonoscopy examination are indicated for patients with psoriasis who present with bowel symptoms.
Association of Psoriasis with Colorectal Cancer: A Systematic Review and Meta-Analysishttps://www.jaad.org/article/S0190-9622(20)32643-8/fulltext
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Exploring the Link Between Psoriasis & Colorectal Cancer - Physician's Weekly