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Shares of Novartis are down nearly 3 percent this morning after the company reported a sharp decline in generic drugs and sales results from key branded medicines that missed analysts’ projections for the first quarter.
The use of artificial intelligence and machine learning in drug development has been ramping up and investors are taking keen notice of the growing trend. This morning BenevolentAI snagged $115 million.
GlaxoSmithKline Chief Executive Officer Emma Walmsley continues to hone her leadership team with a hire who will focus on potential research and development deals.
Public health officials and scientists have had concerns about how long Ebola vaccines’ protection lasts. A new study shows that one of those vaccines confers at least two years of protection.
Sanofi has agreed to sell its generics division, Zentiva, to Advent International. The deal is expected to wrap by the end of this year.
Mylan Rumored to be in Discussions to Buy Merck KGaA’s Consumer Health Business, but Mylan Denies It
Mylan is reportedly in top-level talks with Germany’s Merck KGaA to buy its consumer health business. However, Mylan has denied it.
GlaxoSmithKline Chief Executive Officer Emma Walmsley continues to trim excess fat from the company. This morning the company announced it has divested its rare disease gene therapy portfolio to Orchard Therapeutics.
Novartis has struck a deal to acquire AveXis for $8.7 billion. Novartis will pay $218 per share, which is a 72 percent premium over AveXis’s 30-day volume-weighted average stock price.
If a brand name drug loses patent protection, that often marks the date when companies can begin marketing generic versions of the drug. However, this has grown more complicated with the approvals of biosimilars.
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