I have never heard a claim that it would... it is mainly for maintaining/rebuilding cartilage (glucosamine/chondroiten). There is actual evidence (studies) that they decrease pain of osteoarthritis and help reshape cartilage (shown by biopsy).
MSM has claims of benefit for aches/arthritis but no large studies. Some also claim that hair and nails grow faster (no claim of regrowth of bald areas) but the studies are very very small... dont know if I would call that claim proven or backed up by evidence...