OBJECTIVES The purpose of this study was to estimate the annual costs and the cost per responder for psoriatic arthritis (PsA) patients treated with apremilast, etanercept, and adalimumab in adults with PsA in the United States. METHODS Comparative efficacy data were obtained from a Bayesian network meta-analysis of biologic and non-biologic disease-modifying antirheumatic drugs as of October 2013. The primary outcome was ACR20 response at Week 24. Response rate differences from the clinical trials were assumed to be maintained for 52 weeks. US wholesale acquisition cost as of June 2014 and approved labeled dosing were used to derive drug treatment costs.  RESULTS At Week 24, the adjusted ACR20 response rate was 40.3% for apremilast, 53.4% for etanercept, and 57.8% for adalimumab. The cost per ACR20 responder at Week 24 was $23,562 for apremilast, $30,346 for etanercept, and $25,978 for adalimumab. By Week 52, the cost per ACR20 responder was $53,704 for apremilast, $65,750 for etanercept, and $56,273 for adalimumab. The annual cost to achieve 100 responders was $5,370,387 for apremilast, $6,574,981 for etanercept, and $5,627,336 for adalimumab. CONCLUSIONS Apremilast had the lowest wholesale acquisition costs per ACR20 responder and the lowest annual cost to achieve 100 ACR20 responders, as compared with etanercept and adalimumab through 52 weeks in PsA patients.