Novartis nabs a new anti-hives use for Xolair in the EU

Novartis ($NVS) won European approval for its injectable Xolair formula as a treatment for chronic hives. As the company points out, it's the only product cleared for patients whose chronic spontaneous urticaria haven't responded to antihistamines. The drug is approved in the U.S. and EU to treat allergic asthma; it brought in $613 million in net sales last year. Release