Novartis up on Femara study results and approval

The widely reported news that Novartis’ breast cancer drug Femara is superior for many patients in the treatment of breast cancer, together with the descision by US regulators to approve the drug, have pushed its share price up 1.2 per cent.

The company’s stock has risen 20 per cent over the year overall.

“The approval was expected but is still important for the group to reach the expected growth of Femara in coming years and to defend itself against (AstraZeneca’s) rival product Arimidex,” Forbes reports Vontobel analyst Giusep Demont writing in a note to clients.

Vontobel also reported that the drug achieved revenue of $386 million in 2004 and had the potential to reach $1.4 billion in 2009.

A study, published in the New England Journal of Medicine (NEJM), showed that Femara demonstrated a significant advantage in disease-free survival versus tamoxifen when used after surgery (adjuvant) in postmenopausal women with hormone receptor-positive early breast cancer.

© Adfero Ltd