- Novartis (NVS +2.4%) has received FDA breakthrough therapy designation for its BYM338 (bimagrumab) drug for treating sufferers of sporadic inclusion body myositis (sIBM), a rare yet potentially fatal muscle-wasting condition.
- If eventually authorized, BYM338 has the potential to become the first treatment for sIBM.
- BYM338 is the third Novartis drug this year to obtain the FDA's breakthrough designation. The company developed it with Morphosys (MPSYF.PK).
- Patients with sIBM can gradually lose their ability to walk, experience falls and injuries, lose hand function, and have swallowing difficulties. (PR)