Novartis Shares Gain After Positive Breast-Cancer Trial Results
27 Março 2023 - 04:57AM
Dow Jones News
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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