Democrats from the House Committee on Oversight and Government Reform have sent letters to seven drugmakers as part of an investigation into why prices for multiple sclerosis drugs have nearly quadrupled since 2004. Reps. Elijah Cummings (D-Md.) and Peter Welch (D-Mass.) penned inquiries to Bayer, Biogen, EMD Serono, Novartis, Roche, Sanofi-Aventis and Teva Pharmaceuticals. Get […]
Novartis
Novartis sales down -2% but ahead of estimates in Q2
Shares in Novartis (NYSE:NVS) rose today after the pharmaceutical company met expectations on Wall Street with its second quarter results. The company posted profits of $1.98 billion, or 84¢ per share, on sales of $12.24 billion for the 3 months ended June 30, for bottom-line growth of 9% on sales loss of -2% compared with the same […]
Novartis unit Alcon posts modest Q2 gain
(Reuters) — Long-suffering Novartis (NYSE:NVS) unit Alcon‘s sales growth accelerated in the second quarter, boosting options for the business including a possible disposal, CEO Joe Jimenez said today. The eye care subsidiary’s sales rose 1% to $1.5 billion, including intraocular lens revenues, which grew for the first time in the second quarter since 2014. Spending continued […]
FDA panel recommends approval for gene-altering cancer treatment
An FDA advisory panel yesterday recommended approval for Novartis‘ (NYSE:NVS) CAR-T gene therapy. If approved, it would be the first ever treatment of its kind on the market. The panel voted unanimously, 10-0, to recommend that the FDA give its official nod. The company’s therapy genetically alters a patient’s own cells to fight acute lymphoblastic leukemia. Get […]
FDA approves diagnostic that simultaneously screens for multiple lung cancer types
The FDA said today that it awarded premarket approval to Thermo Fisher Scientific’s (NYSE:TMO) next-gen sequencing-based test that can simultaneously screen tumor samples for biomarkers associated with 3 approved therapies for non-small cell lung cancer. The company’s Oncomine Dx Target Test evaluates 23 genes associated with non-small cell lung cancer. The tests results could help […]
Ocular Therapeutix founder & CEO Sawhney to step down | Personnel Moves – April 13, 2017
The president & CEO of Ocular Therapeutix (NSDQ:OCUL), Amarpreet Sawhney, is slated to step down from the company that he helped start in 2006. He will serve as the board’s executive chairman for 1 year, unless he decides to leave earlier. The company wrote in a regulatory filing that “his service will be automatically renewed for […]
Novartis trial results could spell trouble for Regeneron
Head-to-head late-stage clinical trials published on Tuesday showed that a Novartis (NYSE:NVS) drug to treat patients with neovascular age-related macular degeneration doesn’t need to be injected as frequently as a rival drug from competitor Regeneron (NSDQ:REGN). Analysts reportedly said the data gives Novartis’ treatment, RTH258, a competitive edge compared to its rival therapies. Get the full […]
Medicxi closes $300m EU growth-stage life sciences fund
Investment group Medicxi said today it closed its $300 million Midicxi Growth 1 fund focused on growth stage companies in European life sciences. The fund is being backed by cornerstone strategic investors Novartis (NYSE:NVS), Verily and the European Investment Fund, and includes most of the institutional LPs that backed the firm’s 1st fund, as well as […]
Novartiz unit Sandoz seeks FDA nod for generic Advair Diskus
Novartis (NYSE:NVS) unit Sandoz said today that the FDA has accepted the abbreviated new drug application for its generic version of Advair Diskus. The fluticasone propionate/salmeterol device is designed to treat asthma in patients ages 4 and older, as well as provide maintenance treatment of airflow obstruction and reduce exacerbations in patients with chronic obstructive […]
Braeburn names former Teva exec as new president, CEO | Personnel Moves – June 14, 2017
Braeburn Pharmaceuticals said last week that it named Michael Derkacz as president and CEO of the buprenorphine implant-maker. Most recently, Derkacz worked as senior VP and head of global central nervous system and pain therapeutic areas for Teva Pharmaceuticals (NYSE:TEVA). Behshad Sheldon, who helped to found Braeburn in 2012, is slated to step down from Braeburn […]
Avita Medical taps ex-Novartis exec Perry for CEO as it shifts focus to US | Personnel Moves June 9, 2017
Avita Medical (ASX:AVH) said last week it tapped former Novartis (NYSE:NVS) global biz dev & licensing chief scientific officer Dr. Michael Perry as its new chief executive officer, replacing resigning CEO Adam Kelliher. Dr. Perry served as a non-exec director of Avita since Feb 2013, according to the company, and held positions with Novartis including chief scientific […]
