Member access

4-Traders Homepage  >  Shares  >  Swiss Exchange  >  Novartis AG    NOVN   CH0012005267

NOVARTIS AG (NOVN)

174
Delayed Quote. Delayed BATS EUROPE - 10/31 05:30:00 pm
89.2250 CHF   -0.08%
3d ago NOVARTIS : Psoriasis is so much more than a skin disease and has effects on..
3d agoDJNorway's Oil Fund Posts Flat Returns in 3Q
3d agoDJNorway's Oil Fund Posts Flat Returns in 3Q--Update
SummaryQuotesChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

UK Health Body Approves Novartis's Tasigna For CML

04/24/2012 | 08:16pm US/Eastern

The U.K.'s health-cost regulator has decided to back an expensive cancer drug from Novartis AG (NVS) for treating chronic myeloid leukemia--but not one from U.S.-based Bristol-Myers Squibb Co. (BMY)--after the Swiss drug maker offered to cut the drug's price.

The independent National Institute for Clinical Excellence, known by its acronym NICE, said Wednesday it approved Novartis's Tasigna and the company's older drug, whose brand name is Glivec, for use in treating CML on the publicly funded National Health Service. The generic names for Tasigna and Glivec are nilotinib and imatinib, respectively.

However, NICE said it wasn't approving Bristol-Myers Squibb's Sprycel, also known as dasatinib.

CML is a cancer of blood-forming cells in the bone marrow that usually develops slowly, which is why it is described as a chronic form of the disease.

NICE director Carole Longson said: "The recommendations reaffirm the use of imatinib as an effective treatment for the majority of patients and a cost-effective use of NHS resources, and we are also very pleased to be able to add a further treatment option for these patients by recommending nilotinib.

"Although no trials directly comparing dasatinib and nilotinib were available, the committee concluded from indirect comparisons that dasatinib and nilotinib could be considered equally as effective in treating CML.

"However, the manufacturer of nilotinib has already agreed with the Department of Health to provide the drug to the NHS at a discounted price. This reduction in cost enabled the independent committee to approve nilotinib for use on the NHS."

Dasatinib and nilotinib both cost over GBP30,000 per patient a year and the standard dose of imatinib costs GBP20,000.

NICE didn't disclose the price discount offered by Novartis for nilotinib.

-By Sten Stovall, Dow Jones Newswires; +44 207 842 9292; sten.stovall@dowjones.com

Latest news on NOVARTIS AG
1d ago NOVARTIS : Cipla in patent fight (drug war)
2d ago Ranbaxy sees first profit in six qtrs on Diovan sales
2d ago RANBAXY TURNS AROUND, POSTS Rs478-CRORE PROFIT IN Q2
3d ago NOVARTIS : European shares rise
3d ago NOVARTIS : Psoriasis is so much more than a skin disease and has effects on peop..
3d agoDJNorway's Oil Fund Posts Flat Returns in 3Q
3d agoDJNorway's Oil Fund Posts Flat Returns in 3Q--Update
4d ago NOVARTIS : New Report Available: Cough, Cold and Allergy (Hay Fever) Remedies in..
4d ago Ranbaxy surges after profit, Sun Pharma also gains
4d agoDJEuropean Stocks Rebound But Investors Remain Cautious -- 3rd Update
Advertisement
Chart
Duration : Period :
Novartis AG Technical Analysis Chart | NOVN | CH0012005267 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF