By Cecilia Butini

 

Shares in Swiss pharma major Novartis AG gained in early trading on Monday after the company reported positive trial data for its breast-cancer treatment Kisqali, which analysts said were eagerly awaited.

At 0718 GMT, shares traded 5.6% higher at CHF80.67.

Novartis said that its drug Kisqali has met the trial's primary endpoint during an interim analysis, showing a clinically meaningful benefit in a population of patients with early breast cancer. The data readout had been "eagerly awaited," analysts at Jefferies said in a note.

The analysts said that this could represent a $6 billion opportunity as it implies upside on earnings per share of at least 2% to 4%, and of 2% to 3% on net present value. Consensus on earnings per share is expected to be lifted by 3% to 6%, according to Jefferies.

 

Write to Cecilia Butini at cecilia.butini@wsj.com

 

(END) Dow Jones Newswires

March 27, 2023 03:42 ET (07:42 GMT)

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