Novartis gets FDA nod for advanced breast-cancer treatment

Novartis AG said late Friday the U.S. Food and Drug Administration has approved one of its treatments for a type of advanced breast cancer afflicting patients carrying a gene mutation. The mutations are associated with tumor growth, resistance to endocrine treatment, and a poor overall prognosis, Novartis said. The treatment, Piqray, is the first ever for treatment specifically for the type of advanced breast cancer with the mutation, the company said. "We are proud to offer a new treatment option that specifically addresses the needs of the patients living with this mutation," Novartis' oncology Chief Executive Susanne Schaffert said in a statement. "We are grateful to our researchers' bold and unrelenting pursuit of a first-in-class treatment for this incurable disease, and to the patients, investigators and administrators who participated in the clinical trials leading to this remarkable milestone." American depositary shares of Novartis rose nearly 1% in the extended session Friday, after ending the regular trading day up 3.7%.

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