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Name | Symbol | Market | Type |
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Novartis AG | NYSE:NVS | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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-0.07 | -0.07% | 97.27 | 97.91 | 97.07 | 97.75 | 1,045,641 | 21:24:36 |
By Neil MacLucas
ZURICH--Novartis AG (NVS) said Monday it had closed a study of its twice-a-day LCZ696 pill early after the drug demonstrated efficacy in treating patients with chronic heart failure.
Basel-based Novartis said it had closed the trial early on the recommendation of the Data Monitoring Committee after two earlier tests had demonstrated the safety profile of the heart failure pill was acceptable.
"We recognize the huge global need for treatments that extend and improve the lives of people with heart failure," said Tim Wright, who heads development at Novartis Pharmaceuticals. "We believe LCZ696's unique mechanism of action could be transformative."
LCZ696 is the second treatment, along with serelaxin, which is being developed by Novartis for patients with heart failure. Last week, serelaxin suffered a setback when staff at the U.S. Food and Drug Administration panel recommended the drug be rejected.
Heart failure is a significant and growing public health concern with more 20 million people living with the disease across Europe and the U.S. alone. It is associated with high morbidity and mortality, frequent hospitalization and poor quality of life.
Write to Neil MacLucas at neil.maclucas@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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