Novartis share rose on getting right to sell the MS pill

After it won a U.S regulatory advisory panel’s support for launching the first pill for the treatment of multiple sclerosis, share of Novartis AG rose 3.1 percent in Zurich trading. Advisors to the Food and Drug Adminstration have voted 21-3 in favor of the pill and it gave boost to the share prices of the company.

Based in Basel, Switzerland, the drug maker was facing competition from Merck KgaA for selling the first pill that delays the progress of MS.

Voice president of the company has said, this is an encouraging and important milestone for the MS community. We believe that a treatment that reduces relapses and slows disability progression in a convenient oral formulation could encourage more people with MS to initiate treatment.