2023-03-27 17:07:01 ET
- Novartis ( NYSE: NVS ) closed up 8% on Monday after reporting positive top-line data on its breast cancer drug Kisqali (ribociclib) in those with earlier stages of the disease.
- Results showed Kisqali significantly reduced the risk of disease recurrence when used with standard endocrine therapy compared to endocrine therapy alone in those with early breast cancer. The drug was used as adjuvant treatment.
- Deutsche Bank also upped its rating on Novartis to hold from sell on the results.
- Read why Seeking Alpha contributor Jonathan Weber rates Novartis ( NVS ) a hold.
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Why did Novartis stock go up today? Early breast cancer trial results