Novartis is gobbling up a startup biotech in the U.S. that could help provide an entry into the frenzied race for PD-1 targeting therapies, announcing this morning that it had struck a deal to buy CoStim Pharmaceuticals, a low-profile biotech based in Cambridge, MA, and listed as part of Atlas Venture's group of companies.
Novartis may have a long way to go before it's done cutting its blockbuster R&D budget. With a major strategic review underway, Novartis CEO Joe Jimenez told analysts that its massive drug research operation still offers a fresh source of spending cuts--even after a number of moves aimed at concentrating more of its R&D operations in the company's main research hubs in the U.S., Europe and Asia.
Want the latest on Novartis' should-we-or-shouldn't-we asset review? Leerink Partners analysts met with CEO Joe Jimenez recently, so they can deliver that and more, including some hints at cost-cutting targets.
Any industry that's undergoing as much change as biopharma is always looking for leadership. Old marketing practices are being blown apart, R&D is being subjected to emergency surgery, drug...
Novartis is expanding a plant in Singapore and the international engineering and construction firm PM Group is helping.
Last week Novartis' vaccine unit posted yet another operating loss, extending its streak in the red to four years. Yet despite its well-known, long-term problems, suitors are reportedly circling the unit, with the potential of Bexsero and Menveo likely to be a factor attracting potential buyers.
In the biotech and pharma industries, drug delivery is a crucial aspect of research and development. Finding new ways to deliver old drugs, ways to make a new drug more efficient or ways that make a...
A couple of weeks back, the Street was abuzz that Merck would hand over its consumer-health business for Novartis' animal-health and vaccines units. Yesterday, word was that Merck has some consumer-goods giants shopping its consumer-health aisle.
Novartis' 500 Swiss job cuts announced earlier this month are just the tip of a global iceberg. The company plans to cut or shuffle up to 4,000 jobs in its pharma business, with many of the positions moving to a new operations center in Hyderabad, India, a Swiss newspaper reports.
Novartis is trying to make its meningitis B vaccine Bexsero widely available in the U.S., instead of just supplying it on an ad hoc basis to tackle outbreaks.