Novartis expects a more difficult pricing environment for drugs in the United States in the years ahead, its chief executive told a results conference call on Tuesday.
“We expect pricing to become more difficult in the U.S. over the next three to five years,” Joe Jimenez said.
Both major U.S. presidential candidates have cited concern about drug pricing.
Swiss rival Roche’s Chief Executive Severin Schwan had said last week he did not see a “fundamental change” in U.S. price pressure after the Nov. 8 presidential election, regardless of which candidate wins.
Jimenez also said Novartis was on track to reach $1 billion sales in biosimilars this year. He said Novartis would focus on bolt-on acquisitions and a larger deal would be considered only if it was “very attractive” to Novartis, he said.
By Silke Koltrowitz and Paul Arnold
Source: Reuters
Airnov provides critical healthcare industries with high-quality, controlled atmosphere packaging, to protect their products from moisture and oxygen. The business has manufacturing facilities in the USA, France, China and India and employs around 700 people.
Takeda of Japan has partnered with Hong Kong-based Hutchmed, gaining the commercial rights to colorectal cancer drug fruquintinib outside of China for $400 million up front, plus $730 million in potential milestone payments. Takeda also will help develop fruquintinib, which can be applied to subtypes of refractory metastatic colorectal cancer, regardless of biomarker status, the companies said.
On April 3, Scangos, who’s been chief executive officer at Vir since the start of 2017, will hand over the reins to Marianne De Backer, Ph.D. De Backer comes over from Bayer, where she currently heads up pharmaceutical strategy, business development and licensing. Alongside her CEO appointment, De Backer is set to join Vir’s board of directors, the company said Wednesday.
