Thursday, 26 April 2018 - 10:14
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Novartis

First quarter meeting expectations for Novartis

Switzerland-based pharmaceutical group Novartis has announced today its Q1 2018 results. These have not satisfied investors, indeed Novartis’ shares have lost almost 3% (Zurich). The group’s profits have increased by 22% ($2.03bn), especially thanks to products against cancer and cardiovascular…

New deal for Novartis

It is widely understood that new Novartis CEO Vas Narasimhan has a far more aggressive managerial style than his predecessor Joseph Jiménez. Since Narasimhan was appointed CEO, Novartis has entered into M&A agreements for a total of $25.8bn: it has…

Novartis acquires AveXis for $8.7bn

Novartis has announced it has acquired AveXis for $8.7bn, paying it $218 per share, that is a 88% premium over the company’s closing price on Friday ($115.9). AveXis focuses on gene therapies for the treatment of spinal muscular atrophy and…

Novartis sells GSK its share in JV Consumer Health for $13bn

Novartis and GlaxoSmithKline have jointly announced today, before trading opened in Europe, that GSK has sold 36.5% of JV Consumer Health’s shares to GSK for $13bn. The deal allows GSK to secure one of the largest Consumer Health divisions in…

Top management revolution at Novartis

The new Novartis CEO Vas Narasimhan is revolutionizing his management team, as many people expected. The veteran Wyss Andre, 51, head of Novartis Switzerland for years now, will leave his office and will be replaced by another veteran in Novartis’…

Vasant Narasimhan, Novartis CEO, describes group’s R&D strategy

41-year-old Novartis new CEO Vasant Narasimhan has announced his R&D strategy for the Basel-based group. Narasimhan is seeking to innovate the data science and digital technologies divisions, which he expects to be the development drivers for new drugs. Additionally, the…

Novartis starts divesting Sandoz’s North-American business ($1.6bn)

Reuters yesterday announced that Switzerland-based Novartis has started the process to divest the North-American division of Sandoz, its generic pills business. The divestiture may attract other drugmakers and private equities, ready to offer a minimum of $1.6bn, that is 8x…

Joe Jiménez, Novartis outgoing CEO, describes group’s strategy

The German daily Neue Zürcher Zeitung has published a long interview to Joe Jiménez, outgoing CEO of Switzerland-based pharmaceutical group Novartis. The American manager has addressed the ethical value of drug manufacturing and marketing and the need to make them…

Here is the salary of new Novartis CEO Vas Narasimhan

The salary of the new Novartis CEO Vas Narasimhan is fairly below that of his predecessor Joe Jiménez. The outgoing CEO in 2017 earned CHF13.1m, whereas his successor will earn an estimated CHF8.9m, subject to fulfillment of all the set…

Novartis to pay $170m for Spark Therapeutics’ gene therapy

Novartis’ new CEO Vas Narasimhan appears to be fulfilling the promises made when he was appointed, as he announced he was determined to invest on gene therapies. Novartis announced yesterday night that it has acquired the commercialization rights outside the…

Sandoz (Novartis) and Biocon announce cooperation agreement over biosimilars

Sandoz–subsidiary of Novartis’–and India-based Biocon have announced a cooperation agreement aimed at manufacturing and marketing new biosimilars for immunology and oncology. Under the terms of the agreement, Sandoz will obtain commercialization rights to novel biosimilars for NAFTA and most of…

Novartis exploring sale of part of Sandoz USA ($2-3bn)

Novartis is allegedly planning to divest part of Sandoz’s US assets for a total of approximately $2-3bn. The businesses on sale reportedly include the dermatology unit, with a minimum estimated value of $1.5bn, plus other assets with products that the…

Vectura targeted by AstraZeneca and Novartis (GBP700m)

The Daily Telegraph has reported today that UK-based Vectura Group is targeted by AstraZeneca. According to rumors circulating yesterday, instead, Novartis–a partner of Vectura’s–is planning to acquire it completely. Vectura’s shares have lost over 21% of their value since January…

Novartis exploring sale of some brands in US

Switzerland-based Novartis is reportedly exploring the sale of some drugs that are not part of its core therapeutic areas, due to the strong pressure on prices–especially those of drugs  marketed in the US. Novartis has recently been reported to be…

New spate of job cuts in Switzerland for Novartis

Novartis in August announced 500 job cuts in Basel and Schweizerhalle and on Tuesday announced 160 more–before 2022–in the packaging department of Wehr site, employing approximately 500 people. The facility especially manufactures two important products:  the diabetes drug Eucreas–accounting for…

What to expect from Vas Narasimhan, next Novartis CEO

The Neue Zürcher Zeitung has published today a long article about the next head of Novartis, Vas Narasimhan, briefly describing his career, starting as a consultant at McKinsey and reaching the peak as a high-flier at Novartis. Since Narasimhan has…

EMA: Novartis submits MAA for CAR-T therapy Kymriah

Novartis announced today that that it has submitted a MAA (Marketing Authorization Application) to EMA for CTL019 (tisagenlecleucel) for two different indications. Indeed, the application refers both to the treatment of children and young adults with B-cell ALL (acute lymphoblastic…

Novartis hires bank to assess sale of part of Sandoz

Novartis has hired Centerview bank to review strategic options for Sandoz dermatology business. Sandoz is Novartis’ unit focusing on generics, and is under huge pressure due to the price war being fought in the rich US market. For the same…

Novartis, Amgen and Banner Alzheimer’s Institute, cooperation broadened

Novartis, Amgen and Banner Alzheimer’s Institute (BAI) have announced they have broadened their cooperation. Specifically, the companies have informed they will initiate the API (Alzheimer’s Prevention Initiative) Generation Study 2, designed to assess the CNP520 BACE1 inhibitor in preventing or…

Novartis acquires France-based Advanced Accelerator Applications for $3.9bn

Novartis today announced, before trading opened, that it has acquired the France-based Advanced Accelerator Applications (AAA) for $3.9bn. The acquisition reflects the need to strengthen the group’s portfolio in the neuroendocrine tumors and – more generally – in the cancer…

New gene therapy potentially close to approval

Tomorrow will be a momentous day for all the companies in the gene therapies business. Indeed, an advisory committee to the FDA will meet to discuss Luxturna (voretigene neparvovec), a gene therapy by Spark Therapeutics. The drug has been developed…

Eli Lilly’s Verzenio, new breast cancer therapy, approved

FDA approved yesterday afternoon Eli Lilly’s abemaciclib, an investigational treatment for HR-positive, advanced breast cancer, which accounts for 72% of breast cancer cases. The new therapy will be marketed as Verzenio and launched on the US market as of mid…

Novartis targeting Advanced Accelerator Applications SA group

Novartis AG is reportedly targeting the France-based radiopharmaceutical group Advanced Accelerator Applications SA, leader in nuclear medicine products for PET and SPECT. The acquiree was founded in 2002 by the Italian scientist Stefano Buono as a spin-off of the CERN….

Express Scripts, gene therapies and affordability

An interesting article appeared on the website of Express Scripts, one of the major US-based health coverage organizations, addresses the issue of cost management for new gene therapies. Novartis’ Kymriah, recently approved by FDA, surely provides an efficacious treatment option…

Novartis’ CEO Joe Jimenez to step down, successor immediately appointed

After 8 years as head of Switzerland-based Novartis, Joseph Jimenez has announced he will resign and the company’s board has appointed his successor: Vasant (Vas) Narasimhan, M.D. Narasimhan is currently Novartis’ Global Head of Drug Development and Chief Medical Officer…