Why Novartis Stock Topped the Market Today

The company has a brand-new product to ship to pharmacies.Although it's never guaranteed that regulatory approval of a new drug will juice the share price of its developer, this often happens in the pharmaceutical field. Sure enough, after receiving regulatory approval for one of its medications, Novartis (NVS +2.94%) saw a nearly 3% increase in its share price. This easily surpassed the S&P 500 index's gain of 0.9% that trading session. New drug approved by the FDANovartis announced late Monday that the U. ...