On July 2, Novartis rose 3.01% in regular trading, trading at $158.84/share, with turnover of $48.96 million. The stock gained momentum after the company announced European Commission approval for its gene replacement therapy Itvisma.

Novartis received regulatory clearance for Itvisma to treat spinal muscular atrophy in patients aged 2 and older. The single-dose therapy works by substituting the defective SMN1 gene to improve physical movement without requiring weight-based or age-based dosing adjustments. Approval was primarily supported by Phase 3 clinical trial data showing statistically significant motor function improvement sustained over a 52-week observation period. The therapy had previously received a positive CHMP recommendation from the European Medicines Agency in April, and this formal approval marks a significant milestone in Novartis's rare disease gene therapy commercialization efforts.

Within the Pharmacy sector, AstraZeneca up 4.32%, Novo-Nordisk up 3.6%, Eli Lilly up 2.08%, Pfizer up 1.68%, Johnson & Johnson up 1.47%.

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