It's a dark day at Novartis. Sun Pharma rolled out its copycat version of Novartis' blockbuster cancer drug Gleevec, setting the Swiss drugmaker up for a big hit to 2016 sales.
Industry watchers already have high expectations for Novartis' Cosentyx. But the company's execs think the drug--armed with two new approvals in quickly expanding markets--is on pace to exceed them in 2016.
Novartis doesn't mind saying that Entresto fell short in the fourth quarter. The hotly anticipated heart drug brought in a paltry $5 million, not much given its impressive study data. But the Swiss drugmaker says Entresto is about to make an upward turn, and it's pushing hard to make sure that happens.
Since Eli Lilly closed its $5.4 billion deal last year to buy Novartis Animal Health, Lilly has been doing an in-depth evaluation of its global manufacturing operations. The conclusions it has reached are bad news for more than 100 workers at plants in Ireland and Scotland.
Switzerland-based Novartis sees Mumbai-based Sun Pharmaceutical Industries meeting its February target start date for sales of generic Gleevec/Glivec (imatinib), putting the Indian drugmaker in the spotlight on the deadline.
Novartis has rid itself of more than two dozen manufacturing sites in the past few years, closing or selling some facilities and handing off a bunch to GlaxoSmithKline as part of their big asset swap. Now the Swiss drugmaker says it intends to organize what is left into one overreaching operation in expectation of saving some serious money by 2020.
Remember the days when drugmakers could raise prices without sparking political pushback? Novartis CEO Joe Jimenez does--and he says they're not coming back.
GlaxoSmithKline has been experiencing a high demand for its meningitis B vaccine Bexsero that has led to a shortage of doses for U.K. private clinics outside of the country's National Health Service.
Novartis' Alcon eye care unit has been a thorn in the company's side for a while now, with slumping numbers taking a toll on sales. CEO Joe Jimenez is giving Alcon till the end of the year to clean up shop and is shifting a few things around to give the unit a fighting chance.
Swiss pharma giant Novartis is changing up its massive R&D; organization in hopes of squeezing out some savings while betting big on new medicines.