Swiss-based Novartis will buy privately-held Spinifex Pharmaceuticals for $200 million upfront as well as unspecified clinical and milestone payments for a firm that developed a candidate for neuropathic pain, EMA401, a novel angiotensin II Type 2 receptor (AT2R) antagonist.
After scoring FDA approval earlier this year, Novartis' multiple myeloma med Farydak (panobinostat) is picking up steam across the pond, snagging the European Medicines Agency's (EMA) recommendation for patients with advanced forms of the disease.
Two union funds are suing Novartis, claiming that the Swiss drugmaker used "sham" patent-infringement claims to delay a generic version of its blockbuster leukemia drug Gleevec. Though just the latest in a series of legal battles over drug patent settlements, it's the first attempt by purchasers to block one of those settlements, the plaintiffs' lawyers said.
Novartis may be trailing behind Big Pharma rivals that already have immuno-oncology treatments on the market. But the company insists that doesn't mean it's not well positioned in oncology.
Novartis' eye drug Lucentis has long had a target on its back from biosimilar makers who would love to get some piece of the $4 billion in annual sales it racks up. Now an Indian drugmaker says it has hit that mark.
Flat news is good news. Pharma spending on advertising and promotional expenses will dip by just 1.7% next year, according to Schonfeld & Associates' annual Advertising Ratios & Budgets. That means a total of more than $21 billion in ad spending and just a bit healthier than last year's decline of 2%.
Novartis has had a complicated year: Three months ago, the Swiss drugmaker closed its multipart asset swap with GlaxoSmithKline, sending most of its troubled vaccines business to GSK and taking on the U.K. drugmaker's oncology business.
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.
Earlier this year, Novartis became the owner of a number of new oncology assets thanks to its multibillion-dollar asset swap with GlaxoSmithKline. And Friday, it released some positive new survival data for leukemia drug Arzerra that adds to the evidence that the trade was a good one for the Swiss drugmaker.
Novartis CEO Joe Jimenez took a swipe at Sandoz's Indian competitors last year, suggesting there would be fallout in the generics market as smaller players were unable to "build quality into their systems" to meet rising regulatory demands. Now a Sandoz plant in India is having its own issues, recalling more than 1 million packages of a generic of the number one selling allergy pill Zyrtec.