Swiss drugmaker Novartis (NYSE:NVS) gets the European Commission’s approval for its advanced prostate cancer treatment therapy, Pluvicto. Positive results from the Phase 3 Vision trial and a favorable opinion by one of the European Medicines Agency’s committees, supported the regulator’s consent.
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Pluvicto, a radioligand therapy, is approved in combination with androgen deprivation therapy (ADT) with or without androgen receptor (AR) pathway inhibition. It is worth mentioning that the approval is applicable to all 27 European Union member states plus Iceland, Norway, Northern Ireland, and Liechtenstein.
Furthermore, Novartis said that additional phase 3 trials are currently underway to investigate the therapy’s success in earlier stages of prostate cancer. Also, the company is building its manufacturing capacity in order to meet the strong demand for this treatment.
President of Novartis Europe Haseeb Ahmad said, “We are excited by the potential of Pluvicto to bring groundbreaking clinical benefits to these patients, transforming cancer care for the third-most diagnosed cancer globally.”
Ending Note
The company has been making smooth progress in all the trials currently. Also, the spin-off of Sandoz in order to focus on its core business bodes well for long-term growth.
Moreover, Novartis recently entered an exclusive worldwide license agreement with Erasca (ERAS) for naporafenib, a potential drug against cancer. As per the deal, NVS can receive up to $80 million in cash upon the achievement of certain regulatory milestones and up to $200 million in cash upon the achievement of sales targets. Such positive factors have supported the stock’s more than 10% rally over the past six months.
