Novartis Fails to Win UK Backing for Lucentis in Diabetic Eye Condition

Novartis AG, Europes second-largest drugmaker, failed to win approval from the U.K.s health-cost agency for its drug Lucentis in diabetics who suffer an eye condition. Lucentis wasnt cost effective in patients with macular edema, the National Institute for Health and Clinical Excellence said today in a statement. The medicine costs 742 pounds ($1,200) for a monthly injection, NICE said. The agency advises the U.K.s state-run National Health Service on which treatments represent value for money.

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