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Novartis, Pfizer cut prices to win UK approval for cancer drugs

Reuters

LONDON (Reuters) - Novartis (NOVN.S) and Pfizer (PFE.N) have won approval for two cancer drugs to be used routinely on Britain's National Health Service after offering bigger price discounts.

The National Institute for Health and Care Excellence (NICE) said on Thursday its draft guidance now recommended Novartis' Afinitor for certain breast cancer patients and Pfizer's Xalkori in lung cancer following the undisclosed "larger" discounts.

The move comes as NICE reappraises all drugs covered by the Cancer Drugs Fund, which was overhauled earlier this year.

Japan's Eisai (4523.T) last week won a similar green light for its breast cancer drug Halaven after cutting the price for Britain's state health service.

(Reporting by Ben Hirschler; Editing by Mark Potter)