British Regulators Sour on Novartis's Cancer Drug

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

British regulators from the National Institute for Health and Clinical Excellence, or NICE, decided on Wednesday not to recommend  Novartis's (NYSE: NVS  ) cancer drug Jakavi for treatment of myelofibrosis, a type of rare blood cancer affecting less than one in 100,000 people each year in Britain.

In a silver lining for Novartis, NICE did note that Jakavi showed effectiveness in treating symptoms of myelofibrosis, such as an enlarged spleen and fatigue, and that the drug could offer a survival benefit to patients. However, regulators wouldn't green light the drug as it "could not be considered a cost-effective use of NHS resources" compared to other therapies.

NICE's Health Technology Evaluation Centre Director, Carole Longson, commented on the cost issue in NICE's press statement, saying:

It is disappointing not to be able to recommend this new treatment in our preliminary recommendations, but in order to do this we have to be sure that the treatment is both clinically and cost effective, because money has to be diverted from elsewhere in the health service to pay for it.

The recommendation made by NICE is only guidance, and a final decision on the drug won't come until later this year. Regulators will consult with Novartis before then. Jakavi is already approved in the E.U. to treat myelofibrosis.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2257649, ~/Articles/ArticleHandler.aspx, 9/29/2016 4:50:04 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 7 hours ago Sponsored by:
DOW 18,339.24 110.94 0.61%
S&P 500 2,171.37 11.44 0.53%
NASD 5,318.55 12.84 0.24%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/28/2016 4:02 PM
NVS $81.22 Up +0.34 +0.42%
Novartis CAPS Rating: ****