Novartis Aktie News: Novartis Shares Rise in Morning Trading

Shares of Swiss pharmaceutical giant Novartis (NOVN) gained ground in morning trading on Monday, buoyed by positive news from the company's cancer drug portfolio.

Key Points

• Novartis shares rose by 1.5% in early trading.
• The gains were driven by positive data from a Phase III trial of the company's cancer drug Pluvicto.
• Pluvicto is a targeted therapy for treating a type of aggressive prostate cancer.

In a statement released on Monday, Novartis announced that Pluvicto had met its primary endpoint in the Phase III trial, demonstrating a statistically significant improvement in overall survival compared to standard of care.

The data from the trial, which was presented at the American Society of Clinical Oncology (ASCO) annual meeting, showed that patients treated with Pluvicto had a median overall survival of 21.9 months, compared to 14.9 months for patients treated with standard of care.

The results were hailed as a major breakthrough in the treatment of prostate cancer, and analysts say they could lead to increased demand for Pluvicto and boost Novartis's revenue.

In addition to the positive news on Pluvicto, Novartis also announced that it had received approval from the European Commission for its drug Zarzio for the treatment of multiple sclerosis.

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