Novartis AG Chases Pfizer Inc. In Hot New Breast Cancer Drug Area

(Reuters) - Novartis is hot on the heels of Pfizer in developing a promising new type of breast cancer drug that analysts believe could generate billions of dollars in annual sales.

The Swiss drugmaker, which has previously kept its research program under wraps, revealed on Friday that its experimental pill LEE011 was set to enter final-stage Phase III clinical trials next month.

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