) announced positive results from a phase III study on candidate
The study was a part of the randomized, double blind, placebo
controlled PANORAMA-I (PANobinostat ORAl in Multiple MyelomA)
trial. It evaluated LBH589, a pan-deacetylase inhibitor, in
patients with relapsed or relapsed and refractory multiple
The results from the study showed that LBH589 plus Velcade and
dexamethasone met primary endpoint of extending progression-free
survival (PFS) as compared to Velcade plus dexamethasone and
Novartis plans to present the full results from the PANORAMA-I
trial at an upcoming medical congress and discuss with regulatory
It was observed from the previous studies that oral LBH589 in
combination with Velcade and dexamethasone recaptured responses
in heavily pretreated and Velcade-refractory multiple myeloma
patients, paving way for a potential new treatment
We remind investors that Novartis is facing generic
competition for several key drugs such as Gleevec, Zometa and
Diovan. Sales of Gleevec edged down 1% in the first nine months
of 2013 due to loss of patent exclusivity in Brazil, Russia,
Canada, Turkey and Mexico while sales of Zometa declined 46% in
the first nine months due to the loss of exclusivity and
consequential generic competition.
Therefore, the successful development and commercialization of
the pipeline is very important for Novartis as it will help
replace a part of the revenues lost to generics.
Novartis currently carries a Zacks Rank #3 (Hold). Right now,
) look attractive. All three carry a Zacks Rank #2 (Buy).
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