Novartis jumps on ofatumumab MS data

Shares in Swiss pharma giant Novartis (NOVN: VX) were 1.7% higher after two hours of trading on Friday following the company’s presentation of Phase III data on its multiple sclerosis (MS) prospect, ofatumumab.

In both the ASCLEPIOS I and II studies, ofatumumab demonstrated superiority over Sanofi’s (Euronext: SAN) approved therapy Aubagio (teriflunomide) in patients with relapsing MS.

Ofatumumab actually already has an approval for chronic lymphocytic leukemia and is marketed under the trade name Arzerra, but Novartis sees it as a potential blockbuster in MS.