The deal gives Google a partner with healthcare experience to commercialize the glucose-recording contact lens technology it unveiled earlier this year.
Over the first few months of 2014, Novartis quietly began laying off workers, shedding an estimated 3,000 jobs in four months. Now BioSpace has provided details of where the ax has fallen and why, with development IT teams suffering heavy job losses.
Take a look at Novartis' second-quarter results for reasons why it engineered that big asset swap-and-sale with GlaxoSmithKline and Eli Lilly. The two units Novartis is unloading, vaccines and animal health, delivered weak sales for the quarter, dragging the company's top line below expectations.
For the past 8 months, Novartis and its partners have been trying to sell the skin-patch maker LTS Lohmann. Two private equity firms appeared ripe for a potential $1.7 billion deal. But that didn't happen. Now, Novartis and the German investment firm BWK are selling their shares in LTS to fellow owner Dietmar Hopp.
Canada-based Microbix has slapped Novartis with a lawsuit in Europe, where it says the Swiss pharma giant has infringed its patent on Virusmax--a technology used for increasing virus yields in egg-based vaccine manufacturing.
After years of waiting for a turnaround in its vaccines unit, it looks like Novartis may have sold it off at the right time. The Basel-based drugmaker Thursday reported stepped-up operating losses and flagging sales for the division, much of which will be on its way to former rival GlaxoSmithKline when the companies' $7.1 billion deal closes next year.
Novartis and Google are teaming up to develop Google's smart contact lenses for intraocular medical conditions.
Learning the lessons of failed trials in mild, moderate and severe Alzheimer's disease, Novartis is planning to study two new treatments on patients who are yet to show any symptoms, hoping to succeed where many others have slipped and delay the onset of the memory-destroying ailment.
Novartis' in-development drug secukinumab beat out the blockbuster Enbrel in improving symptoms of psoriasis in Phase III, improving the company's odds of success in what promises to be a competitive race among next-generation therapies for the autoimmune disease.
Kickback accusations have yet again been raised against Novartis, a company that four years ago promised to live by a new integrity code. A former exec now suggests she was fired for suggesting similar methods in the way Novartis planned to award a contract to wholesaler and health services company McKesson.