Boston, MA 04/30/2014 (wallstreetpr) – The Switzerland-based drugmaker Novartis AG (ADR) (NYSE:NVS) has won marketing approval of its non-small cell lung cancer drug. The non-small cell cancer accounts for more than 85 percent all lung cancer deaths.
The approval of the drug not only brings a breakthrough treatment to the market but also comes four months ahead of the expected clearance date. The U.S. Food and Drug Administration observed that the drug promised substantial solution over the current therapies and granting it expedited approval was in the best interest of the lung cancer patients. Nonetheless, the drug will be used on patients that have been previously tried with Pfizer Inc (NYSE:PFE)’s Xalkori.
The drug, certinib, will be marketed as Zykadia. Market experts believe the drug could fetch about $423 million in revenue by 2018.
Cancer deaths
The FDA, while commenting on the approval of Zykadia, said lung cancer accounts for most of the cancer-related deaths in the U.S. and that an estimated 224,000 new lung cancer cases would be diagnosed in 2014. About 160,000 Americans at risk of death from the diseases, according to the data at the National Cancer Institute. As such, although Zykadia will be targeted at a small group of the cancer patients, it will no doubt be a much-needed cancer treatment solution.
Although Novartis has won early approval for its non-small cell cancer drug in the U.S. market, the company will have to prove the benefit of the therapy to patients to retain it in the market. But according to the drugmaker, proving the benefits of the drug to patients could be the easiest thing given that the drug has shown solid success in patients tried.
Focus on most rewarding projects
The approval of Zykadia comes just when Novartis AG (ADR) (NYSE:NVS) recently announced its intent to focus more on fast-growth and high-margin drug development projects while divesting underperforming assets. The company recently announced a deal with GlaxoSmithKline (GSK) through which the giant drugmakers will swap some assets and also make a joint venture in the consumer health.
