Keyword: Spark Therapeutics
Roche has said a delay in the U.S. regulatory review of its takeover of Spark Therapeutics is “not unusual.” But a third delay is anything but normal.
The Spark shares Roche had tendered has actually dropped, from 29.4% early this month, to 26.1%.
Last July, Roche put a halt on U.S. price hikes. But that didn't stop five of its products from topping analysts' estimates by double digits in Q1.
Lacking two-fifths of the Spark shares it needs to wrap up its $4.3 billion buyout, Roche extended its $114-per-share offer into next month.
Roche grew sales by 7% in 2018, even as biosimilar rivals unleashed damage in Europe. But 2019 will be the moment of truth for the Swiss drugmaker. U.S. copycats to its trio of cancer megablockbusters—Herceptin, Rituxan and Avastin—are expected to arrive.
Roche's Spark acquisition didn't come easy: The deal proxy shows the company had to fight through a bidding war to land its target.
The Spark buy will make Roche a leader in gene therapy and could expand a hemophilia franchise that's currently spearheaded by Hemlibra.
Novartis figures biopharma companies both large and small will need to embrace alternative payment models for pricey gene and cell therapies.
The cell and gene therapy fields remain in early stages, but Novartis' CEO sees a big future. He's working to position Novartis ahead of the pack.
After winning European approval for its gene therapy Luxturna, Novartis is working on individual reimbursement plans with member countries.