0940 GMT - Novartis's positive late-stage results for its blood-disorder treatment Fabhalta speak for the efficacy of the drug in treating other diseases, Vontobel analyst Stefan Schneider says in a note. The Swiss pharma giant's drug, already approved for chronic kidney disorder, is currently being tested in two rare kidney diseases. "Novartis sees peak sales for the drug of $3+ billion--which we roughly match in our modeling--but still risk adjust our revenue estimates by 40% in indications, where we have not yet seen clinical data," the analyst says. Shares fall 0.2% to 90.23 Swiss francs. (helena.smolak@wsj.com)
(END) Dow Jones Newswires
December 06, 2024 04:43 ET (09:43 GMT)
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