Switzerland-based pharmaceutical company,
) recently announced positive phase III data from the GLOW 2 study
of its pipeline candidate NVA237. The candidate is being studied
for the treatment of chronic obstructive pulmonary disease (COPD).
The study showed rapid improvement in lung function and symptom
relief over one year in COPD patients.
Data from the phase III GLOW 2 study showed that once-daily
NVA237 had a rapid onset of action at the first dose, which
sustained 24-hour bronchodilation over 52 weeks.
The study also revealed that the once-daily NVA237 was better
than placebo in improving lung function, symptom relief and quality
of life, while reducing exacerbations. It also increased the
percentage of days with no symptoms during daytime.
NVA237's efficacy in increasing lung function, improving COPD
symptoms and reducing exacerbations was found to be similar to
Novartis submitted NVA237 for approval in Europe with the
proposed brand name of Seebri Breezhaler. Novartis also plans an
early 2014 U.S. filling. Notably, NVA237 was submitted for
regulatory approval in Europe and Japan during the third and fourth
quarters of last year, respectively. Novartis has a co-promotion
Eisai and Co. Ltd
) in Japan.
Though we are pleased with Novartis' wide range of products and
its efforts to diversify further, we prefer to remain on the
sidelines in the long term. We remain concerned about the patent
expirations of key drugs like Femara and Diovan. Thus, we have a
Neutral recommendation on Novartis. The company carries a Zacks #4
Rank ("Sell" rating) in the short run.
NOVARTIS AG-ADR (NVS): Free Stock Analysis
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