Novartis Beovu Eye Disease Drug Nears Marketing Approval With CHMP Nod

Novartis AG (NOVN.EB) said Friday that the European Union’s Committee for Medicinal Products for Human Use has given a positive opinion on its Beovu medicine as a treatment for wet age-related macular degeneration, bringing it to the verge of market authorization in the bloc.

The committee recommended that the European Commission approve the medicine to treat the eye disease following positive clinical trial results, the Swiss drug maker said.

In most cases a recommendation by the CHMP leads to marketing approval. Novartis said that it expects a decision to be made within three months.

The U.S. Food and Drug Administration approved Beovu for wet AMD in October.

https://www.marketscreener.com/NOVARTIS-9364983/news/Novartis-Beovu-Eye-Disease-Drug-Nears-Marketing-Approval-With-CHMP-Recommendation-29724318/