The analyst believes that data on Scemblix ASC4FIRST look impressive in patients with chronic myeloid leukemia (CML). These data were presented at the 2024 meeting of the American Society of Clinical Oncology (ASCO).

UBS confirms its buy recommendation on the stock, with a target price of CHF 108, representing an upside potential of 18%.

' Scemblix is the first CML treatment to show significantly superior efficacy to investigator-selected standard TKIs', said Novartis.

' Novartis' Scemblix has superior efficacy and a favorable safety profile in newly diagnosed CML patients, with a peak sales opportunity estimated at more than $2 billion ' says UBS.

' Novartis is confident in Scemblix's peak worldwide sales of over $3 billion across all lines ' says the analyst firm.

Scemblix has received Breakthrough Therapy designation from the US FDA, with the submission now under review as part of the agency's Oncology Center of Excellence RTOR program.

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