Novartis AG said a late-stage study showed its oral, once-daily BAF312, or siponimod, reduced the risk of disability progression in a severe form of multiple sclerosis.

The Phase III EXPAND study, the largest randomized, controlled study in secondary progressive multiple sclerosis (SPMS) to date, met its primary endpoint, compared with placebo, the Swiss drugmaker said in a statement.

"SPMS is a particularly disabling form of MS, and there is a need for effective treatment options to help delay disability progression in those living with the condition," Vasant Narasimhan, global head of drug development and chief medical Officer for Novartis, said in the statement.