Switzerland-based Novartis sees Mumbai-based Sun Pharmaceutical Industries meeting its February target start date for sales of generic Gleevec/Glivec (imatinib), putting the Indian drugmaker in the spotlight on the deadline.
Novartis' Alcon eye care unit has been a thorn in the company's side for a while now, with slumping numbers taking a toll on sales. CEO Joe Jimenez is giving Alcon till the end of the year to clean up shop and is shifting a few things around to give the unit a fighting chance.
Novartis has a problem with its eye-care unit Alcon: It's not performing. As expected, the division dragged down the Swiss drugmaker's fourth-quarter and full-year financials. But the company's sales and earnings didn't fall short just because of Alcon.
Novartis has been struggling under the weight of its slumping Alcon eye-care business, and the company is planning to unveil a growth plan soon to try to get things back on track. But don't expect things to improve in the blink of an eye, some analysts say.
Novartis' Alcon business has been struggling for some time now, and the company's efforts to help its eye-care business get back on track don't seem to be doing much to stanch the bleeding. So Novartis is kicking things into crisis mode, planning to launch a game plan this year to revive its flailing unit.
Novartis will shed another manufacturing unit as it continues its efforts to improve earnings by getting more efficient. This time, it will sell an Alcon unit to Swedish contract manufacturer Recipharm but has swung a deal to buy and continue to market the eye meds made there.
Novartis is mulling a sale of its contact lens care business as the company faces sluggish growth for its Alcon unit and targets eye care innovation to swing its numbers northward.
Novartis' Alcon expanded the recall of its intraocular lenses in Japan, pushing the number of affected units to 89,042, due to a continued increase in reports of postoperative inflammation among patients who received the AcrySof IQ Toric lens.
Novartis' Alcon received CE mark approval to sell its AcrySof IQ PanOptix trifocal intraocular lens in Europe. The implantable lens corrects near, intermediate and distance vision in cataract patients.
Two key executives of Novartis AG subsidiary Alcon with responsibility for Asia were fired this week, AsianScientist reported, after confirming the action by the parent company.