OBJECTIVES: Compare the cost per persisting patient among psoriasis (PsO) patients initiating apremilast or biologics from the US managed care perspective. METHODS: Adults with ≥2 diagnosis codes for psoriasis (ICD-10:L40) were selected from the MarketScan Commercial and Medicare Supplemental Databases (2014-2015). The first prescription date was defined as the index date; patients had to be continuously enrolled for ≥6 months pre-index and ≥3 months post-index. Biologic users had to be treatment-naïve to index medication in the pre-index period; prior use of another biologic was not reason for exclusion. Treatment persistence, defined as the lack of a gap of ≥60 consecutive days after the end of supply of a prescription fill, was assessed at 6 months post-index. Healthcare costs (2014 US$) were defined as PsO-specific pharmacy costs incurred by payers over 6 months. The analysis assumed patients discontinue treatment if benefits received do not outweigh risks. A patient on therapy for 6 months was assumed to be benefitting from treatment and was considered a persisting patient. The cost per persisting patient was calculated by dividing cumulative cost at month 6 by persistence rate at month 6 for apremilast and biologic therapy. RESULTS: