NOVARTIS (NOVARTIS)
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Novartis signs $7.8bn Abogen deal as Big Pharma taps China
Novartis has signed a deal worth up to $7.8 billion, in the latest of a flurry of tie-ups between Big Pharma and Chinese biotechs. The Swiss pharma major is entering a licensing agreement with China-based Abogen Biosciences for its lead asset, an early-stage experimental treatment for autoimmune disease, Abogen said in a statement on Friday.
Novartis third trial failure as del-desiran misses main goal
2 Min Read Novartis suffered its third clinical-trial setback in a week after del-desiran, an experimental treatment for the rare muscle-wasting disorder myotonic dystrophy type 1 (DM1), failed to meet the main goal of a late-stage study. The setback adds to pressure on the Swiss drugmaker as it looks for new sources of growth ahead of what is expected to be its biggest patent cliff.
Novartis trial failure casts doubt on cholesterol drug race
Novartis' failure in a closely watched cardiovascular trial has raised questions about one of the pharmaceutical industry's biggest drug races and rival treatments from U.S. heavyweights Amgen and Eli Lilly. The pelacarsen drug, developed jointly with Ionis Pharmaceuticals, reduced a particularly harmful form of cholesterol in a late-stage clinical trial, but failed to significantly improve cardiovascular outcomes, Novartis said after the bell on Friday.
Novartis backs remibrutinib to $4bn peak as patent cliff looms
"This medicine could be one of our largest medicines in history," Novartis CEO Vas Narasimhan told CNBC on Tuesday, as the Swiss drugmaker backed remibrutinib, its experimental MS medicine, to generate more than $4 billion in peak annual sales. Days before, Barclays cut its forecast for the drug's peak sales after detailed results from two late-stage trials showed the drug had reduced relapses in MS patients by less than analysts expected.
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