News Update: Novartis Gains FDA Approval For Multiple-Sclerosis Drug Gilenya

Shares of Swiss pharmaceutical firm Novartis AG (NYSE:NVS) may trade higher today after the company said the FDA approved its multiple-sclerosis drug Gilenya, which is the first oral treatment indicated for relapsing forms of the disease available in the US. Gilenya reduces the frequency of MS relapses, or flare-ups, and helps slow the build-up of some of the issues that the disease creates. Nicholas LaRocca from the National Multiple Sclerosis Society said in a statement, "A new treatment option that offers significant efficacy in the convenience of a capsule is a welcome alternative to frequent injections for individuals living with this chronic disease." SmarTrend is bullish on shares of Novartis and our subscribers were alerted to buy on June 10, 2010 at $47.16. The stock has risen 19.7% since the alert was issued.