Novartis (NVS) Wins Landmark Approval for Baby Malaria Treatment
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African Approval
The group said it had been given the green light in Switzerland by Swissmedic for Coartem Baby or Riamet Baby as it is known in some other countries.
Eight African countries, Burkina Faso, Cote d'Ivoire, Kenya, Malawi, Mozambique, Nigeria, Tanzania and Uganda who participated in the assessment are now expected to issue quick approvals for the treatment.
According to UNICEF, in 2022, there were 249 million malaria cases globally that led to 608,000 deaths in total. Of these deaths, 76% were children under 5 years of age.
Around 30 million babies are born in areas of malaria risk in Africa every year, with one survey across West Africa reporting infections ranging between 3.4% and 18.4% in infants younger than six months old.
Relentless Work
Novartis launched Coartem to treat malaria in 1999, with the new dose strength now designed for small babies. The treatment is dissolvable, including in breast milk, and reportedly has a sweet cherry flavor to make it easier for children to swallow.
Until now, there has been no approved malaria treatment for infants weighing less than 4.5 kilograms, leaving a treatment gap, Novartis said. Indeed, they have been treated instead with versions formulated for older children which present a risk of overdose.
Novartis chief executive, Vas Narasimhan, said: 'For more than three decades, we have stayed the course in the fight against malaria, working relentlessly to deliver scientific breakthroughs where they are needed most.'
Is NVS a Good Stock to Buy Now?
On TipRanks, NVS has a Hold consensus based on 2 Buy, 2 Hold and 1 Sell ratings. Its highest price target is $139.24. NVS stock's consensus price target is $113.45 implying a 7.10% downside.
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