FDA approves Novartis' Farydak for MM

FDA granted accelerated approval to Farydak panobinostat from Novartis AG (NYSE:NVS; SIX:NOVN) in combination with Velcade bortezomib and dexamethasone to treat multiple myeloma patients who have received at least two prior therapies, including Velcade and an immunomodulatory agent. Farydak, an oral pan-deacetylase (DAC) inhibitor, is first-in-class for MM.

Novartis plans to launch the drug within a few weeks at a wholesale acquisition cost of $6,860 per 21-day treatment cycle. ...