Novartis shares jump after Ianalumab meets endpoint in clinical trial

** Shares of Novartis NOVN.S jump 2% after the Swiss pharmaceutical company said its Sjoegren's disease treatment, Ianalumab, met primary endpoint in Phase III trial

** The drug has already been granted fast track designation by the U.S. Food and Drug Administration (FDA) and Novartis says it plans to submit to health authorities globally

** If approved, Ianalumab could be the first targeted treatment approved for patients with Sjoegren's disease

** "Overall, we believe that the detailed data is needed to fully assess the strength of the efficacy benefit seen," Jefferies analysts write, expecting shares to outperform by 2-3% on Monday

** They add that further detailed results will only be disclosed at an upcoming medical meeting, which they infer could be at ACR between October 24-29

** The shares top Switzerland's blue-chip index .SSMI