Novartis' Breast Cancer Drug Trials Boost Stock Prices
Novartis shares rose after the Swiss pharma company reported positive trial data for its breast-cancer treatment Kisqali, which exhibited positive topline results from an interim analysis of NATALEE, a Phase III trial evaluating Kisqali, in a broad population of patients with early breast cancer. The Independent Data Monitoring Committee recommended stopping the trial early because the primary endpoint of invasive disease-free survival had been met. Analysts from Jefferies said the report could represent a $6 billion opportunity as it implies at least a 2% to 4% upside on earnings per share and 2% to 3% on net present value.