|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||95.20 - 95.20|
|52 Week Range||74.46 - 96.50|
|Beta (5Y Monthly)||0.51|
|PE Ratio (TTM)||18.79|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Mar. 04, 2018|
|1y Target Est||N/A|
ZURICH/SAN FRANCISCO (Reuters) - Swiss drugmaker Roche plans to price its oral spinal muscular atrophy drug (SMA) risdiplam aggressively to challenge two of the world's most expensive medicines, Biogen's Spinraza and Novartis's gene therapy Zolgensma. Spinraza's list price is $750,000 in the first year, and $375,000 thereafter, while Novartis's gene therapy for the genetic muscle wasting disease lists at $2.1 million, making it the drug industry's most expensive one-time treatment. While Roche has not released risdiplam's price, drug chief Bill Anderson said the Basel-based company will price the drug much as it did its haemophilia A medicine Hemlibra in 2017, when it undercut traditional therapies made by rivals NovoNordisk and Takeda to help win patients.
Novartis and Britain's National Health Service (NHS) on Monday announced a pact that will clear the way for accelerated review by the country's health watchdog NICE for heart drug inclisiran, which could make it broadly available as soon as 2021. Novartis hopes the NHS deal will boost sales of cholesterol-lowering inclisiran, which the Swiss drugmaker bought in a deal announced last year for nearly $10 billion (£7.70 billion) and predicts will be a top seller. Inclisiran was submitted to U.S. regulators last year, and Novartis expects a European submission in coming weeks.
The full scope of Novartis' $500 million plan, revealed to Reuters in an interview with the company's gene therapy chief, has not been previously disclosed. It is second only to Pfizer , which has allocated $600 million to build its own gene therapy manufacturing plants, according to filings and interviews with industry executives.
Investing.com -- More happy talk from China on trade, while Fed Chairman Jerome Powell sees the economy's glass as "more than half full" (so no more rate cuts for now). Elsewhere, eBay keeps up the flurry of M&A; activity and the UN takes a swipe at countries for failing to live up to their Paris Accord pledges. Here's what you need to know in financial markets on Tuesday, 26th November.
Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Novartis AG (NYSE: NVS) resulting from allegations that Novartis may have issued materially misleading business information to the investing public.
Swiss drugmaker Novartis is betting on heart drug prospect inclisiran in a $9.7 billion (£7.56 billion) takeover of The Medicines Co as it challenges cardiovascular medicines from Amgen Inc , Sanofi and Regeneron Pharmaceuticals . Novartis is paying $85 per share in cash, a 24% premium over The Medicines Co's closing price of $68.55 on Friday, to acquire the U.S. biotechnology company's lone drug, the cholesterol-lowering injection inclisiran. The deal shows Novartis CEO Vas Narasimhan is ready to spend billions on not just rare disease treatments, as it did in 2018 when it paid $8.7 billion for gene therapy specialist AveXis, but also for cardiovascular medicines aimed at a market with potentially millions of patients.
The deal, in which Novartis has agreed to pay $85 a share, could be announced this weekend, the Journal reported, citing people familiar with the matter. Novartis declined to comment. The Medicines Co did not respond to a request for comment on Saturday.
Swiss-listed eyecare company Alcon reported another quarterly loss, specified its profit outlook, boosted projections for the cost of its spinoff from Novartis and announced a $300 million restructuring program. The company now expects a core operating margin of 17-17.5% for 2019, compared with 17-18% previously and tweaked its sales goal to 4-5% growth, from 3-5%. Alcon increased its expected separation costs from Novartis to $500 million, from $300 million, due to work on IT systems, among other things.
Novartis is considering an offer for U.S. biotechnology firm The Medicines Co , Bloomberg reported on Tuesday, a deal that could broaden the Swiss drugmaker's cabinet of heart medicines and shore up growth threatened by patent expirations. Novartis, which declined to comment on the report, is hunting for a $5 billion (£4 billion) acquisition in the United States, two banking sources told Reuters separately without identifying a target. New Jersey-based The Medicines Co's top drug candidate is cholesterol-lowering drug inclisiran for heart patients.
Novartis is exiting drug discovery at its Shanghai site and shifting its focus to drug development, saying accelerating approvals in China are pushing the Swiss company to dedicate the operation's resources to getting its medicines to market. The move marks an about-face from just three years ago, when Novartis had christened the $1 billion campus as its Chinese hub for early-stage research. About 150 of the more than 1,000 Shanghai staffers will lose their research jobs, while Novartis plans to add 340 new positions to develop up-and-coming drug prospects over the next four years, a period in which it expects to file 50 new drug applications with China's regulator.
The drug will be priced between $84,852 and $113,136 per year for most patients, who will typically infuse themselves with between three and four vials each month, Novartis said. The biologic drug, also known as crizanlizumab, was shown in trials in its high-dose formula to cut sickle cell pain crises nearly by half to 1.63 incidents annually from 2.98 in those getting a placebo. Novartis has forecast that the drug's annual sales will top $1 billion, much of which will likely come from U.S. government payers such as Medicare and Medicaid.
Novartis is buying the Japanese generics unit of South Africa's Aspen Pharmacare in a deal worth up to 400 million euros (344.5 million pounds) to expand in the world's third-biggest drug market, the Swiss drugmaker said on Monday. Novartis's Sandoz generics business agreed to pay 300 million euros initially, plus a deferred amount not expected to exceed 100 million euros based on certain conditions being met, Novartis said.
U.S. regulators have halted a trial of Novartis's Zolgensma treatment after an animal study raised safety concerns, the company said on Wednesday, in a setback for the drugmaker's plan to expand its use to older patients. The U.S. Food and Drug Administration's partial hold on the so-called STRONG trial impacts patients aged up to five with spinal muscular atrophy (SMA) who were to receive a higher dose of the gene therapy via a spinal infusion. The hold was issued after Novartis told health authorities about the animal study's findings that showed dorsal root ganglia (DRG) mononuclear cell inflammation, a neurological condition sometimes accompanied by nerve damage or loss.
Novartis sales data on Tuesday suggested the Swiss drugmaker is reaping less than the $2.1 million U.S. list price for its gene therapy Zolgensma, as insurers may be getting breaks on the world's most-expensive one-time treatment. The spinal muscular atrophy (SMA) treatment, approved by the U.S. Food and Drug Administration in May, has reaped $175 million in revenue this year, including $160 million in the third quarter. On a call following third-quarter results, Chief Executive Vas Narasimhan said roughly 100 patients have been treated under the paid programme.
Swiss drugmaker Novartis boosted its 2019 forecasts on Tuesday after beating third-quarter expectations, a feat helped by the sales debut of gene therapy Zolgensma, the world's most expensive one-time treatment. CEO Vas Narasimhan's bet on the potential cure for spinal muscular atrophy (SMA) has drawn scrutiny, initially due to its $2.1 million (£1.6 million) price and since August over a data manipulation scandal that has prompted a U.S. Food and Drug Administration (FDA) investigation. "We're very pleased with the uptake," Narasimhan told reporters on a call.
Novartis AG blamed former executives Brian and Allan Kaspar for the manipulation of data behind its $2.1 million gene therapy Zolgensma, saying they either personally manipulated the data or pressured subordinates into doing so. The Kaspar brothers were executives at AveXis, the company that developed the drug and was acquired by Novartis for $8.7 billion last year. Last month, the U.S. Food and Drug Administration said Novartis could face civil or criminal penalties because of the data manipulation and the possibility the company had waited to notify regulators.
NEW YORK, Sept. 23, 2019 -- Levi & Korsinsky notifies investors that it has commenced an investigation of Novartis AG (“Novartis” or “the Company”) (NYSE: NVS) concerning.
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Novartis AG (“Novartis” or “the Company”) (NYSE: NVS) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Novartis was the subject of an FDA statement issued on August 6, 2019. According to the FDA, the Company had submitted manipulated data for its biologics license application (“BLA”) for its gene therapy drug, Zolgensma.
Hoy Health launched less than two years ago, but sees strong growth potential in paving the way to the Latin American health care market.