Novartis Announces The FDA Has Approved Xolair As First And Only Medicine For Children And Adults With One Or More Food Allergies
Portfolio Pulse from Benzinga Newsdesk
The FDA has approved Novartis' Xolair for reducing allergic reactions in patients with IgE-mediated food allergies, based on the Phase III OUtMATCH study. This makes Xolair the first and only FDA-approved medicine for this purpose. The study showed significant improvement in patients' ability to tolerate allergens like peanuts, milk, egg, and cashew. Xolair's safety profile was consistent with previous findings, and it's now available for prescription in the US.
February 16, 2024 | 4:28 pm
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Novartis' Xolair has been approved by the FDA for treating patients with IgE-mediated food allergies, marking it as the first and only medicine for this purpose. This approval could lead to increased prescriptions and potentially boost Novartis' revenue.
The FDA approval of Xolair for a new indication significantly expands its market, potentially increasing its prescription rate and boosting Novartis' revenue. Given the lack of alternatives for IgE-mediated food allergies, this approval positions Xolair as a key product in Novartis' portfolio, likely leading to a positive short-term impact on its stock price.
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