By Ben Hirschler LONDON (Reuters) - Novartis is hot on the heels of Pfizer in developing a promising new type of breast cancer drug that analysts believe could generate billions of dollars in annual sales. The Swiss drugmaker, which has previously kept its research programme under wraps, revealed on Friday that its experimental pill LEE011 was set to enter final-stage Phase III clinical trials next month. Pfizer's rival drug palbociclib - the first in the class - is already in Phase III testing, but Novartis' rapid progress means the U.S. group could face competition sooner than expected. The significance of the new targeted approach to fighting cancer was highlighted in April when U.S. regulators granted a "breakthrough therapy" designation to palbociclib, based on impressive results seen in mid-stage trials.
via Health News Headlines - Yahoo! News http://news.yahoo.com/novartis-chases-pfizer-hot-breast-cancer-drug-area-085513246--finance.html
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