Investors in the pharma/biotech sector eagerly wait for pipeline updates as they play an important role in deciding whether or not to invest in a particular company. These updates provide information on experimental drugs and at times give an insight on the commercial potential of the candidate once it is successfully developed and commercialized.
Novartis NVS announced encouraging results from two phase III studies (MEASURE 1 and MEASURE 2) on Cosentyx (secukinumab) for the indication of ankylosing spondylitis (AS). These results were published in the New England Journal of Medicine.
The multi-center, randomized, placebo-controlled phase III studies evaluated the efficacy and safety of 75 mg of Cosentyx in radiographic-confirmed AS compared to 150 mg of placebo. The studies were conducted among anti-tumor necrosis factor (anti-TNF)-naïve patients and patients who had previously failed anti-TNF therapy.
Results from the studies demonstrated significant clinical improvements on treatment with Cosentyx as compared to placebo associated with the signs and symptoms of active AS.
Results also showed that treatment with Cosentyx resulted in improvements in the signs and symptoms, physical function and quality of life measures in active AS as early as week 1 through week 52.
We note that Cosentyx is approved for the treatment of moderate-to-severe plaque psoriasis and psoriatic arthritis. The drug was recently approved in Europe to treat active AS in adults who have responded inadequately to conventional therapy, such as non-steroidal anti-inflammatory drugs.
Cosentyx is approved in the U.S. for the treatment of moderate-to-severe plaque psoriasis in adult patients who are candidates for systemic therapy or phototherapy (light therapy).
Approval of new drugs and label expansion of existing ones should bode well for Novartis as it has been facing stiff generic competition for some of its key drugs like Diovan. Additionally, its oncology drugs are facing competition in the form of new immuno-oncology therapies.
Moreover, its Alcon segment is facing a decline in surgical equipment sales in the U.S. and emerging markets, while Ophthalmic Pharmaceuticals is facing the threat of increased generic competition in the U.S.
Novartis currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the healthcare sector include Pfizer PFE, Bristol-Myers Squibb BMY and Biodel Inc. BIOD. While Biodel sports a Zacks Rank #1 (Strong Buy), the Pfizer and Bristol-Myers carry a Zacks Rank #2 (Buy).
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