SPOTLIGHT: Galvus review period extended

The FDA has extended its review of Novartis' Galvus for diabetes by 90 days. Novartis says that the drug, one of the most important in its pipeline, was delayed after researchers submitted new data on the drug. Its shares slipped slightly on the news. Galvus is widely viewed as a would-be blockbuster with well over $1 billion in annual sales potential. It is in a new class of diabetes drugs that controls blood sugar. Analysts weren't happy about the news, given the race to develop the market for this class of therapies, but still believe that Galvus has lots of potential if the FDA gives it a thumb's up. Report