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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Novartis AG    NOVN   CH0012005267

NOVARTIS AG

(NOVN)
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Novartis: MS Pill Gilenya Patient Develops Rare Brain Disease

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04/13/2012 | 05:33am EDT

Novartis AG (NVS) Friday said a patient treated with its multiple-sclerosis pill Gilenya has been diagnosed with a rare and often fatal brain disease.

The Swiss drug maker said the patient had been previously treated with another MS drug, Tysabri, co-marketed by Biogen Idec Inc. (BIIB) and Elan Corp. PLC (ELN), which has been already associated with progressive multifocal leukoencephalopathy.

"The current assessment is that Tysabri is the drug most likely associated with this case of PML," Novartis said in a statement. "However, a contribution of Gilenya to the evolution of this case cannot be excluded."

The development comes at a critical time for Novartis's Gilenya, a potential blockbuster product whose safety profile has recently come into question after the death of one person in the U.S. last autumn within 24 hours of starting treatment.

The European Medicines Agency, the body responsible for licensing Gilenya in Europe a year ago, is expected to issue a decision on the safety of the medicine following an in-depth review next week.

Novartis said it doesn't know of any confirmed PML cases in patients treated with Gilenya, also known as fingolimod, who hadn't previously been treated with Tysabri.

At 0900 GMT, Novartis shares were trading 0.4% lower at CHF49.79.

-By Marta Falconi, Dow Jones Newswires; +41 43 443 8043; marta.falconi@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
BIOGEN INC. 0.33% 270.82 Delayed Quote.-9.08%
ELAN CORPORATION LTD -0.39% 12.71 Delayed Quote.0.00%
NOVARTIS AG -0.44% 83.1 Delayed Quote.-9.17%
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Financials (USD)
Sales 2020 50 069 M - -
Net income 2020 9 020 M - -
Net Debt 2020 17 461 M - -
P/E ratio 2020 22,2x
Yield 2020 3,52%
Capitalization 195 B 195 B -
EV / Sales 2019
EV / Sales 2020 4,25x
Nbr of Employees 109 000
Free-Float 84,4%
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 102,59 $
Last Close Price 88,61 $
Spread / Highest target 46,2%
Spread / Average Target 15,8%
Spread / Lowest Target -13,1%
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Managers
NameTitle
Vasant Narasimhan Chief Executive Officer
Hans Jörg Reinhardt Independent Non-Executive Chairman
Harry Werner Kirsch Chief Financial Officer
John Tsai Chief Medical Officer
Elizabeth Theophille Chief Technology & Digital Officer
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