Novartis Cosentyx Shows Sustained Remission In Polymyalgia Rheumatica

Goldman Sachs’ Ben Snider told CNBC that markets are focused on near-term visible earnings; he expects S&P 500 earnings growth of 24% this year and 13% next year, with AI infrastructure beneficiaries driving about half. The article screens for stocks with forward P/E <15 and high hedge-fund popularity (Insider Monkey, Q1 2026). It lists Toyota (sales down 3.1% YoY in April) and Novartis (Cosentyx Phase 3 REPLENISH PMR data).

Swiss stocks ended higher on Thursday after a cautious start. The SMI rose 0.93% to close at 13,341.27 (intraday high 13,395.00). Roche gained 4.2% after developing a research-use-only PCR test for the rare Ebola Bundibugyo virus. Partners Group rose 3.73%; Novartis, Alcon, Sonova and SGS gained 1.6%-2%. Switzerland’s unemployment rate held at 3% in May, SECO said.

Novartis reported final Phase III ALIGN results for Vanrafia in adults with IgA nephropathy. According to the company, over 2.5 years Vanrafia cut the rate of kidney function decline by about 34% vs placebo and sustained lower proteinuria. In 340 patients, the annualized eGFR slope was -2.7 vs -4.1, and proteinuria fell 38.3% at nine months. Safety was similar to placebo; Novartis plans traditional approval submissions for 2026.

Switzerland’s SMI fell sharply on Monday, closing at 13,305.40 (-1.75%, -237.26 points) as hopes for a U.S.-Iran peace deal faded. Iran’s Tasnim said Tehran would halt talks and close the Strait of Hormuz, citing U.S. ceasefire violations; U.S. Central Command said it carried out self-defense strikes on Iranian drone-related sites. Roche and Novartis dropped 3.61% and 3.33%. Swiss retail sales rose 1.6% y/y in April, while Q1 GDP grew 0.4% (revised down from 0.5%).

Novartis reported subgroup analyses from its Phase 3 PSMAddition trial at the 2026 ASCO meeting. In 1,100+ PSMA-positive mHSPC patients, Pluvicto (lutetium Lu 177 vipivotide tetraxetan) plus standard of care cut risk of radiographic progression or death by 28% vs standard therapy (HR 0.72, 95% CI 0.58–0.90), with consistent benefit across subgroups. Grade ≥3 adverse events were 50.7% vs 43%. Novartis has filed in the U.S., China, and Japan; decisions are expected in 2H 2026.

Revolution Medicines (RevMed) said its daraxonrasib doubled survival in aggressive pancreatic cancer, from 6.7 to 13.2 months, with final-stage results due at a Chicago medical conference. The outcome has spurred dealmaking and development of “molecular glue” drugs targeting “undruggable” proteins. RevMed’s market cap neared $33B; it plans FDA filing and an ultrafast review, with projected $7B annual sales by 2032.