Novartis Rises as $3.22 Billion Deal Targets Faster Drug Delivery

Alteogen (196170.KQ) and Novartis (NVS) agreed to develop and commercialize subcutaneous products using Alteogen's Hybrozyme technology. Novartis may pay up to $3.223B if all options are exercised, including milestone payments and royalties. NVS stock is currently at $161.98, up 0.45%.

European shares fell on Sep 1, with the Stoxx 600 dropping 0.6% to a one-month low of 647.08, as rising bond yields and inflation data increased expectations of an ECB rate hike. Euro zone inflation rose above 3% in August. Novartis gained 6.3% after positive drug trial results, while Partners Group fell 7.3% due to leadership changes and lower performance income.

The Dow fell 419 points as bond yields rose, driven by Middle East tensions and rising oil prices. Energy stocks like Chevron (CVX) gained, while tech stocks declined. Apple (AAPL) rose 2.6% under new leadership. Palo Alto Networks (PANW) dropped 5.2% ahead of earnings. Novartis (NVS) surged 6.0% on positive drug trial results. The 10-year Treasury yield hit 4.792%.

Novartis has sued its former Australian executive, Matt Zeller, for allegedly holding secret talks with Dennis Bastas' DBG Health while negotiating deals with Novartis. Zeller is now CEO of Arrotex Pharmaceuticals. The lawsuit claims a conflict of interest.

Novartis (NYSE:NVS) shares rose 6% to $161.10 after its MS drug, remibrutinib, succeeded in two Phase 3 trials, showing fewer relapses and brain lesions. The company reported slower disability progression, potentially boosting its market position. Remibrutinib is already sold as Rhapsido for chronic hives, with Q2 sales of $64 million. Full results are expected in October, followed by global regulatory submissions.

Novartis announced positive phase 3 trial results for remibrutinib, an oral BTK inhibitor, in treating relapsing multiple sclerosis (RMS). The REMODEL-1 and REMODEL-2 studies showed significant reduction in annualized relapse rate compared to teriflunomide, with improvements in key secondary outcomes. Novartis plans to submit the data to regulatory authorities for approval.