FILE PHOTO: Swiss drugmaker Novartis’ logo is seen at the company’s plant in the northern Swiss town of Stein, Switzerland October 23, 2017. REUTERS/Arnd Wiegmann
ZURICH (Reuters) – Novartis on Wednesday won a new European approval for its inflammation drug Cosentyx in a form of arthritis, as the Swiss drugmaker predicts broadening use of its top-selling medicine will eventually push annual sales beyond $5 billion.
European Commission (EC) approved Cosentyx for adult patients with active non-radiographic axial spondyloarthritis (nr-axSpA), characterized by chronic back pain. This is the fourth indication for Cosentyx, in addition to its uses to treat psoriasis, psoriatic arthritis and ankylosing spondylitis.
“We’re confident that this brand will continue on its trend to exceed $5 billion,” Chief Executive Vas Narasimhan said on Tuesday in an analyst call, after Cosentyx’s first-quarter sales hit $930 million.
Reporting by John Miller, editing by John Revill