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Novartis shares jump on breast cancer drug trials success

Shares for Novartis are up after the Swiss pharma company reported 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.

Shares for Novartis are up on Monday after the Swiss pharma company reported positive trial data for its breast-cancer treatment Kisqali.

Analysts from Jefferies said the report could represent a $6 billion opportunity as it implies at least a 2% to 4% upside on earnings per share and 2% to 3% on net present value. 

Last month, the reported that 2022 core earnings per share were $6.12, up 6% year-over-year as reported but down 3% in constant currency.

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Meanwhile, 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.

According to the statement, the Independent Data Monitoring Committee recommended stopping the trial early because the primary endpoint of invasive disease-free survival had been met.

Dr. Dennis Slamon, Director of Clinical and Translational Research at the University of California, and NATALEE trial lead investigator, said "While most patients are diagnosed and treated early with the aim to cure breast cancer, the risk of cancer returning, often as metastatic disease, peaks within three years after diagnosis, but never goes away completely."

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"There is a critical need for new, well-tolerated options that keep patients cancer-free without disrupting quality of life," he added. "The NATALEE trial was designed with these unmet needs in mind, and it is extremely encouraging that this study met its primary endpoint."

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