Shares for Novartis are up on Monday after the Swiss pharma company reported positive trial data for its breast cancer treatment Kisqali.
The report could represent $6 billion, as it implies a 2% to 4% upside on earnings per share and 2% to 3% on net present value, according to analysts from Jefferies.
The consensus on earnings per share is expected to move to 6% from 3%, according to Jefferies.
In a company statement, Novartis said the drug exhibited positive topline results from an interim analysis of NATALEE, a Phase III trial evaluating Kisqali, in a broad population of patients with early breast cancer.
The Independent Data Monitoring Committee recommended stopping the trial early because the primary endpoint of invasive disease-free survival had been met, according to the statement.
He added that there is a need for new, well-tolerated options that keep patients cancer-free without affecting their quality of life. The NATALEE trial was designed with these unmet needs in mind, and it is extremely encouraging that this study met its primary endpoint.