by Christopher Freeburn | September 27, 2012 12:47 pm
Novartis (NYSE:NVS) announced on Thursday that mid-stage drug trails of its new psoriasis treatment had proven effective.
The Swiss drug maker said that its new drug, AIN457 mitigated moderate-to-severe symptoms in people suffering from plaque psoriasis nearly three times as much as people in a control group taking a placebo.
Plaque psoriasis inflicts about 2% of the population. The condition causes scaling, pain, itching and redness on hands and feet.
The drug maker is scheduled to present detailed finding from its study later today at a medical event in the Czech Republic.
Shares of Novartis rose about 1% in Thursday mid-day trading in New York.
In July, the company won U.S. Food and Drug Administration approval for its anti-breast cancer treatment, Affinitor. The drug, which blocks proteins needed by cancer cells to reproduce, was derived from bacteria harvested from the soils of Easter Island.
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