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BUZZ-ASX-listed Mesoblast surges on US Medicare billing approval for key drug

Reuters
Oct 03
BUZZ-ASX-listed Mesoblast surges on US Medicare billing approval for key drug

** Shares of Mesoblast MSB.AX advance as much as 16.9% to A$2.970, their highest since February 13

** Second-best performer on ASX200 benchmark .AXJO, which is flat

** Poised for third consecutive session of gains

** Biotech firm's drug Ryoncil gets U.S. Medicare J-code, facilitating reimbursement, broader patient access

** Adds, recognition marks significant milestone for the drug, streamlining billing and payment processes

** Ryoncil is used to treat steroid-refractory acute graft versus host disease, a condition that can occur after blood cell transplant, in paediatric patients

** Stock last up 10.8%, pushes weekly gains to 17.3%, set for its strongest week since July 14

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))

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