In 168 persons with stable Rheumatoid Arthritis but present pain (25-100mm on the VAS rating scale) given either 1g of Velvet Antler from Elk or placebo for 6 months noted that there were no significant differences between placebo and Velvet Antler in regards to pain. Another study by the same research group using a smaller sample (n=40) and graded doses of 430mg, 860mg, and 1290mg daily noted that there was a dose-dependent trend towards reduced pain symptoms but this was not statistically significant.
The product smells like lemon-scented cleaner and bears a resemblance to murky pond water. I hesitantly tried the stuff and found it surprisingly palatable, with a lemon taste, but not too sour and slightly sweet. The directions say to take 14 drops under the tongue, three times a day, but I stopped after one dose — so I probably don't have a good chance of reaping the benefits, if there are any.