Novartis gene therapy approval signals new cancer treatment era

Novartis AG on Wednesday won highly anticipated U.S. approval for the first of a new type of potent gene-modifying immunotherapy for leukemia, a $475,000 treatment that marks the start of a potential new treatment paradigm for some cancers.The approval was widely expected after an FDA advisory panel last month unanimously recommended the action.Novartis shares closed virtually unchanged in Swiss trading.