Categories Health Care

Novartis scores another point in multiple sclerosis therapy, stock rises

Swiss pharmaceutical giant Novartis International AG (NYSE: NVS) on Friday said its ofatumumab met the primary and secondary endpoints of Phase 3 clinical trials for the treatment of multiple sclerosis.

The trials demonstrated the therapy’s efficacy in reducing the number of confirmed relapses as well as delaying disability progression.   

The drug, which has already received approval for the treatment of chronic lymphocytic leukemia, could boost overall sales once approved for multiple sclerosis also.

pharma stocks
Image for representation (Photo by Drew Hays on Unsplash)

The company said it would initiate submissions to health authorities by the end of this year.

“Ofatumumab, if approved, could be a highly attractive treatment option for a broad RMS patient population, including early MS,” said John Tsai, Head Global Drug Development and Chief Medical Officer, Novartis. “The powerful study results are a reflection of our commitment to reimagine MS treatment at all stages of the disease.”

Earlier this year, Novartis had won an FDA approval for Mayzent, a drug used for patients suffering from active secondary progressive multiple sclerosis. 

READ: 4 biotech stocks that are ideal takeover targets

Novartis shares gained 1.6% during pre-market trading on Friday. The stock has jumped 22% since the beginning of this year.

New threat to Sanofi, Roche

The latest development is set to pit Novartis directly against Sanofi SA (NASDAQ: SNY) and Roche in the multiple sclerosis realm. Novartis said the clinical trials showed that its drug had superior efficacy when compared with Sanofi’s treatment teriflunomide (Aubagio).

READ: 9 IPO stocks that have given 100+% returns

However, teriflunomide is a smaller player in terms of sales, and Novartis’ primary competition would be with Roche’s blockbuster drug ocrevus. Notably, ocrevus is the solo approved therapy for the treatment of primary progressive multiple sclerosis.

SNY shares were trading down 0.12% during pre-market trading hours.

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Target Corp posts strong results in Q4: Infographic

Target Corporation (NYSE: TGT) reported fourth-quarter 2020 financial results before the opening bell today. The department store chain reported Q4 revenue of $28.3 billion, up 21% year-over-year and higher than

Key highlights from Autodesk (ADSK) Q4 2021 earnings results

Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per

Infographic: Beyond Meat (BYND) reports wider Q4 loss; Revenue up 4%

Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top