NVS Stock is trading at $76.06 as of 11:45 AM EDT.
The chronic myeloid leukemia medicine nilotinib, marketed as Tasigna, is now more widely available thanks to a voluntary license deal between the United Nations-backed Medicines Patent Pool (MPP) and Novartis (NYSE:NVS).
The decision to authorize the drug was announced in May of this year. The MPP claimed that this was the first-ever voluntary license agreement for a cancer drug that was focused on public health. MPP stated that it is the first license for a cancer medication that the group has signed, as well as the first time a business is licensing a patented cancer drug through a public health-focused voluntary licensing agreement.
Although the remaining patent life is only a few years, MPP Executive Director Charles Gore remarked, “This voluntary license in the non-communicable disease arena sets a crucial precedent that I hope other corporations will follow.” The twice-daily oral CML drug is on the WHO Model List of Essential Medicines (WHO EML) for treating adults and children who are at least one year old.
According to the agreement, specific generic manufacturers will have the opportunity to create, produce, and supply generic nilotinib in the licensed territory, pending local regulatory approval, MPP said in a statement on Thursday. In specifically, the license covers seven middle-income nations with active or pending patents on the product: Egypt, Guatemala, Indonesia, Morocco, Pakistan, the Philippines, and Tunisia.
In May of this year, Novartis and MPP joined the Access to Oncology Medicines partnership. The Union for International Cancer Control and its collaborators are leading this global initiative, which aims to improve low- and lower-middle-income countries’ access to essential cancer drugs.
NVS Stock Forecast
When Novartis releases its next earnings report, which is anticipated to be on October 25, 2022, it will be aiming to project strength. Analysts anticipate Novartis to announce earnings of $1.58 per share in that report. This would represent a 7.6% decrease from the previous year. According to our most recent average estimate, quarterly revenue will total $12.9 billion, which is 0.96% less than the same period last year.
Our Zacks Consensus Estimates show that analysts expect earnings of $6.08 per share and sales of $51.43 billion for the whole year. These sums would represent decreases of -2.56% and -0.94% from the previous year, respectively.
Novartis’ Drug For Chronic Myeloid Leukemia Receives EC Approval
Featured Image- Megapixl @ Rogincone
Author Jowi Kwasu 
