Novartis
NEWS
Shares of Mesoblast Limited are down more than 30% in premarket trading following the company’s disappointing announcement late Thursday regarding its stem-cell therapy trial in ventilator-dependent patients with COVID-19 patients who have moderate to severe acute respiratory distress syndrome.
Novartis is acquiring Cambridge, Massachusetts-based Cadent Therapeutics for $210 million up front and a possible $560 million in milestone payments.
Novartis’ Entresto is well on its way to receiving approval as a treatment for heart failure patients following overwhelming support from a U.S. Food and Drug Administration (FDA) advisory committee.
Novartis’ Iptacopan isn’t the only drug to receive Breakthrough Therapy designation this week. Several other experimental treatments were also awarded the designation.
On Tuesday, Novartis announced the first interpretable results from its Phase III KESTREL study of humanized single-chain antibody fragment (scFv) Beovu, demonstrating significant improvement in central subfield thickness in Diabetic Macular Edema.
Please check out the biopharma industry coronavirus (COVID-19) stories that are trending for December 15, 2020.
Incyte and Novartis announced a Phase III study of Jakafi (ruxolitinib), a first-in-class JAK1/JAK2 inhibitor, failed to hit endpoints as a treatment for patients 12 and up with COVID-19 associated cytokine storm.
To support its long-term goals, the Swiss pharma giant is initiating a share-buyback program of up to $2.5 billion that is expected to be carried out over the next few months.
Please check out the biopharma industry coronavirus (COVID-19) stories that are trending for November 24, 2020.
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