Workers at the plant in Mississauga, Ontario, got the news that layoffs will begin in May and operations will wind down by the end of next year.
The bribery allegations in China just keep on coming. Novartis' Alcon eyecare division now says it will investigate claims it used fabricated clinical trials to bribe doctors. The news is none too welcome for Novartis, which has already faced a set of bribery accusations in China.
A group of minority Schering AG shareholders held out to the bitter end against what Bayer wanted to pay them for their shares, and they will now get the sweet deal they said they deserved.
Novartis won European approval for its eye drug Jetrea, as a treatment for vitreomacular traction, and the European Medicines Agency also approved a new use for Roche's hepatitis C drug Pegasys.
Alcon marketed its LenSx laser to treat cataracts without gaining proper regulatory clearance for updated software and other improvements to the product, the FDA alleges in a warning letter citing the company.
With a new chairman selected to take the helm of Novartis, lots of folks are wondering what is in store for the Swiss drugmaker. Not so fast, CEO Joe Jimenez said this week.
Novartis may be looking at another trial of its troubled blood pressure drug Tekturna. This would not be a clinical trial, however, but more of the civil or criminal kind.
Alcon, Novartis' eye-care unit, has bought German company SensoMotoric Instruments' opthalmic business, acquiring technology for cataract surgery.
Belgian biotech ThromboGenics ($ THR) has picked up a major partnership with the Alcon unit of Swiss drug giant Novartis ($NVS) for its experimental therapeutic for an eye ailment known as symptomatic vitreomacular adhesion, or VMA. And the deal with Alcon, which grants rights to market the eye drug outside the U.S., could be worth up to €375 million ($494 million) to ThromboGenics.
Novartis ($NVS) has disclosed a U.S. government probe into alleged healthcare fraud at its newly acquired eyecare unit Alcon, Reuters reports. The company received a subpoena from HHS, requesting