Novartis
NEWS
The pharmaceutical industry continues to demonstrate its willingness to team up in the ongoing combat against the global COVID-19 pandemic.
Novartis shares were down by 4.4% as the market opened, following the announcement on its earnings call of a disappointing $2.1 billion in net profits and $0.92 earnings per share for 4Q20, below most investor estimates.
Novartis plunked down $650 million in upfront payment for BeiGene’s Tislelizumab, which is already approved for patients with classical Hodgkin’s lymphoma and metastatic urothelial carcinoma in China.
Many companies appear to be getting their clinical trial news updated ahead of the holidays. Here’s a look.
Shares of Mesoblast Limited are down more than 30% in premarket trading following the company’s disappointing announcement late Thursday regarding its stem-cell therapy trial in ventilator-dependent patients with COVID-19 patients who have moderate to severe acute respiratory distress syndrome.
Novartis is acquiring Cambridge, Massachusetts-based Cadent Therapeutics for $210 million up front and a possible $560 million in milestone payments.
Novartis’ Entresto is well on its way to receiving approval as a treatment for heart failure patients following overwhelming support from a U.S. Food and Drug Administration (FDA) advisory committee.
Novartis’ Iptacopan isn’t the only drug to receive Breakthrough Therapy designation this week. Several other experimental treatments were also awarded the designation.
On Tuesday, Novartis announced the first interpretable results from its Phase III KESTREL study of humanized single-chain antibody fragment (scFv) Beovu, demonstrating significant improvement in central subfield thickness in Diabetic Macular Edema.
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