Novartis drops after Gilenya safety warning in USA

Shares in Novartis (NOVN: VX) ticked downwards on Tuesday after the US Food and Drug Administration revealed it was adding a new warning to the label for the firm’s multiple sclerosis (MS) medicine Gilenya (fingolimod).

The agency is warning that, if treatment is stopped, the disease can become much worse than before the medicine was started or while it was being taken.

The FDA says that while this MS worsening is rare, it can result in permanent disability. There have reportedly been 35 such cases, including those reported through the agency's Adverse Event Reporting System (FAERS), although there may be more unreported cases.