Should Novartis sell off its Roche stock, and soon? That's the question Bloomberg poses, now that Roche's voting shares are selling at a big discount to its nonvoting stock. With Novartis weighing all its operations for sale, spinoff, joint venture--what have you--the bet is that CEO Joe Jimenez will liquidate the Roche shares, too.
Novartis has been squeezing costs out of its eye product operations since buying Alcon for nearly $50 billion several years ago. Analysts at the time suggested there was at least $700 million in savings to be had, mostly through layoffs.
Novartis is recalling 42 batches of children's liquid cough and cold products in the U.K. because of a manufacturing issue reported by a contractor.
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.
Bexsero has always carried high expectations at Novartis. As the vaccine unit posted loss after loss in recent years, Novartis pitched the meningitis B vaccine to investors as the product that would usher in an era of consistent profitability. This is yet to happen, but the slow rollout of the vaccine continues.
Europe's antitrust crackdown in pharma marches on. Now, watchdogs are spanking Johnson & Johnson and Novartis for keeping a generic version of a powerful painkiller off the market.
Novartis Chairman Joerg Reinhardt and CEO Joe Jimenez were once in competition for the chief executive post. Jimenez won out; Reinhardt left to run Bayer Healthcare. Now, Reinhardt's back--but rather than wrest power away from Jimenez, he plans to give Jimenez more.
Novartis CEO Joe Jimenez says the pharma giant easily has enough cash on hand to keep the dividends flowing to investors while reserving up to $6 billion for new bolt-on buyouts. In an interview with the Swiss newspaper Schweiz am Sonntag, which was picked up by Reuters, Jimenez says that the sweet spot for deals lies in the $2 billion to $4 billion arena--modest for a company of that size.
With the American Society of Hematology meeting in New Orleans, a slew of blood cancer studies are in the spotlight. Three of the releases caught our eye, because they're significant new data on drugs already on the market.
University of Pennsylvania researcher Carl June is back with another impressive round of results for a much larger group of patients in what is fast becoming a race to the finish line with one of the most promising new leukemia therapies in the clinic.