Novartis (NYSE:NVS) said yesterday that it is considering selling its Alcon eye care business and will buy back up to $5 billion worth of shares over the next 12 months, in an effort to reorganize after a tough year. The company’s profits dropped -11% to $936 million in the 3 months ended Dec. 31, while sales […]
Novartis
FDA approves Alcon’s AcrySof IQ ReStor intraocular lens
Novartis‘ (NYSE:NVS) eye care business, Alcon, said today that it won FDA approval for its AcrySof IQ ReStor multifocal toric intraocular lens. The lens treats presbyopia and pre-existing corneal astigmatism in adult patients undergoing cataract surgery. The AcrySof IQ ReStor intraocular lens is already commercially available in the E.U., Australia, Canada, parts of Central and […]
Sunovion, Novartis ink licensing deal for inhaled COPD drugs
Novartis (NYSE:NVS) said today that it out-licensed its U.S. commercial rights for 3 inhaled chronic obstructive pulmonary disease drugs to Sunovion Pharmaceuticals. Novartis will commercialize the Utibron Neohaler, Seebri Neohaler, and Arcapta Neohaler inhalation powders outside of the U.S. The Switzerland-based company will manufacture the powders for Sunovion, according to the agreement. Get the full story […]
Novartis backs off from 2016 date for testing Google autofocus lens
Novartis (NYSE:NVS) is reportedly backing off a 2016 start date to test its autofocusing contact lens in clinical trials, but it told Reuters that the product is “progressing steadily” in its collaboration with Google (NSDQ:GOOGL). In 2014, CEO Joe Jimenez said he hoped the lens would be on the market in 5 years and last year he said his […]
Novartis mulls sale for underperforming Alcon eye division
Novartis (NYSE:NVS) is considering a possible divesture of its struggling Alcon eyecare business, according to chairman Joerg Reinhardt. Alcon was purchased from Swiss food maker Nestle for $52 billion in 2010 as the company sought to build a European healthcare juggernaut under former leader Dan Vasella. But after Vasella’s departure in 2013, the company has […]
Novartis focus on still-ailing Alcon shifts to 2017
(Reuters) –Novartis‘ (NYSE:NVS) struggling Alcon eye care division will take longer to turn around than expected, the Swiss drugmaker’s Chief Executive Joe Jimenez warned on Tuesday as he reported a smaller than forecast fall in third quarter net income. Alcon’s sales this quarter will be “flat to down slightly,” Jimenez said, after predicting earlier this year that […]
Cerulean, Novartis ink $5m deal to co-develop nanoparticle-drug conjugates
Cerulean Pharma Inc. (NSDQ:CERU) said today that it inked a deal with Novartis (NYSE:NVS) to develop nanoparticle-drug conjugates. The products will match Cerulean’s tumor-targeting tech with Novartis compounds directed at up to 5 targets. The agreement calls for Cerulean to receive $5 million plus funding for 5 full-time equivalents to develop NDC candidates. The Waltham, Mass.-based company can also […]
Researchers develop glucose-sensing contact lens
Researchers have developed a glucose-sensing contact lens as a noninvasive alternative to traditional glucose monitoring with blood tests. Glucose is a good target for optical sensing using surface-enhanced Raman spectroscopy, according to the study published in Advanced Materials. Researchers used multiple layers of gold nanowire stacked on top of a gold film to make the […]
SQZ Biotech lands $16m in Series B for cell therapy tech
SQZ Biotech said today that it closed a $16 million Series B round to fund its preclinical cell therapy programs for oncology and other undisclosed diseases. NanoDimension and Polaris Partners led the funding for the Boston, Mass.-based biotech startup. SQZ said it developed a microchip that can open immune cell membranes temporarily and let proteins in that […]
Alcon wins FDA nod for CyPass Micro-Stent
Novartis (NYSE:NVS)’s Alcon unit won FDA clearance for its CyPass Micro-stent designed to reduce intraocular pressure in patients suffering from glaucoma, according to an FDA release posted today. The device consists of the small CyPass micro-stent which is pre-loaded into the CyPass applier stent delivery tool. The shunt is implanted to control eye pressure by creating […]
Your inhaler’s watching you: drugmakers race for smart devices
(Reuters) – Makers of inhalers to treat asthma and chronic lung disease are racing to develop a new generation of smart devices with sensors to monitor if patients are using their puffers properly. Linked wirelessly to the cloud, the gadgets are part of a medical “Internet of Things” that promises improved adherence, or correct use […]