The Food and Drug Administration recently granted priority review status to Novartis' experimental leukemia drug midostaurin, reports Reuters.
Midostaurin is intended to treat patients with FLT3-mutated acute myeloid leukemia and advanced systematic mastocytosis, according to the report.
The priority review process, which expedites the review of a drug application to about six months after filing, was created to decrease the time it takes to put new medicines on the market.
If approved, some analysts expect the drug to produce annual sales in the hundreds of millions of dollars by 2020, according to Reuters.
More articles on supply chain:
Cubs win launches sports merchandiser into peak logistics season early
New UPS sorting facility coming to Atlanta: 4 things to know
FDA approves Gilead Science's hep B drug