No Approval for Novartis’s Breakthrough Heart Drug

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Source: http://www.novartis.com/index.shtml

Novartis AG (NYSE:NVS) was denied approval for serelaxin, a drug developed to treat acute heart failure, by the European Medicines Agency on Friday, reports the Wall Street Journal. Novartis’ bad news comes just as GlaxoSmithKline announced in a press release that it won a recommendation for approval for its type-2 diabetes drug Eperzan (albiglutide) from the same agency.

Serelaxin, which is being branded as Reasanz, was developed as part of an effort to replenish the company’s product range as a new wave of generic competitors encroach on some of the company’s top-selling products. Novartis has said that it will ask the EMA to re-examine the drug, and will submit a “revised filing package” to support the drug’s application for approval. The company hopes that serelaxin will gain conditional approval from the regulator upon re-examination. If granted, conditional approval would allow Novartis to market the drug in Europe while continuing late-stage trials of the medicine, according to the Wall Street Journal.

The Committee for Medicinal Products for Human Use (or, CHMP), cited in particular their analysis of the RELAX-AHF trial that was published in 2012. In its explanation of the decision not to approve serelaxin, the CHMP wrote, “further studies would be needed to confirm the effectiveness of Reasanz in the treatment of acute heart failure,” per Forbes.

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business