Novartis Lower Despite FDA Approval For Treatment Of Leukemia

Novartis AG (ADR) NVS shares are trading lower by 80 cents at $82.82 in Wednesday's session.

Despite FDA approval for CAR T-Cell therapy to treat certain children and young adults with B-cell acute Lymphoblastic Leukemia, the stock is in the red.

After a lower open, Novartis could revisit Tuesday's close ($83.62) as $83.00 stands at the high for the session as of 12:15 p.m. EST. On the downside, it has found intraday support just under its August 18 low ($82.65) as $82.61 stands as the low for the session.

If the decline continues, there may be additional support at its July 13 low of $82.29.