Novartis experienced a notable upward movement accompanied by intraday volatility, primarily driven by a significant regulatory milestone in Europe. The European Commission granted marketing authorization for the company’s gene replacement therapy, Itvisma, which targets children over the age of two, teenagers, and adults diagnosed with 5q spinal muscular atrophy (SMA) who carry a bi-allelic mutation in the SMN1 gene. This approval represents a critical therapeutic breakthrough, positioning Itvisma as the first and only gene therapy in the European Union approved to treat this broader patient demographic. By expanding its SMA franchise alongside Zolgensma, Novartis effectively addresses a massive unmet medical need, securing a dominant…