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

Biogen posts Q3 earnings well above estimates

Biogen (NASDAQ: BIIB) reported third-quarter 2021 financial results before the regular market hours on Wednesday. The company reported Q3 revenue of $2.78 billion, down 18% year-over-year and higher than the

Infographic: Highlights of Verizon’s (VZ) Q3 2021 earnings report

Verizon (NYSE: VZ) reported Third-quarter 2021 financial results before the regular trading hours on Wednesday. The telecommunications giant reported Q3 revenue of $32.9 billion, up 4.3% year-over-year and above the

PM Earnings: Key quarterly highlights from Philip Morris Q3 financial results

Philip Morris International Inc. (NYSE: PM) reported Third-quarter 2021 earnings results today. Net revenues increased 9% year-over-year to $8.1 billion. The reported net income amounted to $2.42 billion compared to

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