Novartis (NYSE: NVS) announced earlier this month that the U.S. Food and Drug Administration (FDA) accepted its filing for tislelizumab to treat patients with unresectable recurrent locally advanced or metastatic esophageal squamous cell carcinoma (ESCC), which means that a potential FDA approval could come sometime next year.
The news comes eight months after pharma stock Novartis announced a collaboration deal to pay the Chinese biotech Beigene (NASDAQ: BGNE) $650 million for commercialization rights of the cancer drug tislelizumab in countries outside of China, including the U.S., EU, and Mexico. The deal also included royalties for tislelizumab sales outside of China, as well as milestone payments to Beigene.
Hearing pharma and FDA filings in the news triggers investors to consider their portfolio holdings. Let's take a look at why an eventual FDA approval could be in the near future for Novartis, and how this could translate into a winning deal for the company and its investors.
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This Potential Indication Could Be a Winner for Novartis