The Food and Drug Administration approved Novartis' ( NVS) fourth Parkinson's disease drug, Stalevo, the company said Friday.

"As the fourth Parkinson's drug Novartis has introduced in the United States, Stalevo is a clear example of our company's ongoing commitment to the Parkinson's community," said Paulo Costa, chief executive of the company.

Stalevo is for patients with idiopathic Parkinson's disease.

Shares of East Hanover, N.J.-based Novartis were down 0.7% at $40.19 in early trading Friday.

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