With the closing announced on Sunday of its $275 million purchase of Novartis' flu vaccine business, Australia's CSL is slated to become the world's second-largest flu vaccine supplier. It said on Friday that it secured the necessary approvals for the acquisition and worked through Sunday to finalize the deal.
Every Big Pharma company has its own way of dealing with experimental meds that no longer fit in their pipelines. For Novartis, the latest deal involved handing off three therapies to Mereo, a London-based upstart that is being launched with $119 million in financing from a pair of big British biotech investors and a development deal in place with the CRO Icon.
Novartis is looking to distinguish its new med Cosentyx from a bevy of next-gen psoriasis-fighters with additional nods, including one for ankylosing spondylitis. But it's not the only company with that idea.
Novartis won accelerated approval for a promising oncology drug, gearing up to launch a new treatment for an advanced form of the most common type of skin cancer.
Novartis' recently acquired melanoma duo, Tafinlar and Mekinist, has won a recommendation from the European Medicines Agency's Committee for Medicinal Products for Human Use as a combo treatment for BRAF V600 mutation-positive melanoma
Novartis is aiming to distinguish new psoriasis med Cosentyx from the rest of the next-gen field by building up its label, adding nods for conditions including ankylosing spondylitis. But it'll have some competition in that space, too.
A 10% revenue expansion in Novartis' generics unit Sandoz was one of the positives in the Swiss drugmaker's second quarter earnings, but it will not keep the drugmaker from closing three Sandoz plants next year and cutting about 770 jobs to improve margins even more.
Novartis's generics business Sandoz provided the key bright spot in an otherwise tough earnings report for the Swiss pharma, with revenues up 10%. But the starring performance did not keep the manufacturing side of Sandoz from getting spanked, with three of its plants now targeted for closing.
FiercePharmaAsia combs earnings calls by major drug companies for notable and quotable nuggets on emerging markets and Asia to track the latest sales trends and insight into business outlooks in markets as diverse as China, India and Japan to Southeast Asia.
Novartis' Sandoz may have the first FDA-approved biosimilar in Zarxio, but it doesn't have permission to launch--and it won't be getting that until September, the country's top patent court ruled Tuesday.