Novartis scores a quick FDA OK for its new cancer drug Lutathera, picked up in $4B buyout
It didn’t take long for Novartis’ $NVS $4 billion acquisition of Advanced Accelerator Applications to pay off. The FDA has provided its stamp of approval for their drug Lutathera, which uses radioisotopes to target certain neuroendocrine tumors.
The pivotal data for the drug — used to treat gastroenteropancreatic neuroendocrine tumors that affect the pancreas or gastrointestinal tract — from the NETTER-1 study demonstrated a 79% reduction in the risk of disease progression, with an interim median progression-free survival rate of 8.4 months that had yet to max out. The FDA had initially batted back the application on Lutathera at the end of 2016, asking for some additional work on the data, which delayed the approval.
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