Novartis to Spend $1B on Rights to GSK's MS Drug
Novartis announced Friday morning it would spend more than $1 billion to purchase the remaining rights to multiple sclerosis drug Ofatumumab from drugmaker GlaxoSmithKline (GSK).
Novartis initially acquired the rights to the drug earlier this year for treating cancer, writes The New York Times. This transaction will help the pharmaceutical company continue development of the compound for treating relapsing remitting multiple sclerosis (RRMS) and similar autoimmune diseases.
Ofatumumab is “a fully human monoclonal antibody which targets CD20,”according to the company’s statement. The drug, administered through a subcutaneous injection, works by depleting B cells found in lymphatic tissues.
CD20 is a B cell that appears in different forms of cancer indications, but Bloomberg News notes that these same B cells can also contribute to spinal cord damage, which can be a side effect of multiple sclerosis.
The drug demonstrated positive results in a Phase 2a dose finding trial. Findings revealed ofatumumab...
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