Revamped Novartis In Good Shape At 3Q Ahead Of CEO Succession
Novartis beat third-quarter forecasts, flagged its strengthening drug portfolio, and said its CEO transition remains on track for February 2018, but a decision on its eye care division awaits.
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Following tax reform, analysts expect imminent biopharma mega-mergers, with Pfizer, Merck and Roche looking to buy, AstraZeneca, Bristol and Vertex looming as take-out candidates, and Amgen as either a buyer or a target.
Market snapshot: Growth of Novartis' Entresto along with greater use of SGLT-2 inhibitors and the entry of new branded drugs will boost sales of drugs for chronic heart failure from $4.6bn in 2017 to $10.1bn in 2026, despite wide availability of generics, according to a new Datamonitor forecast.
Novartis has tempted Liz Barrett away from Pfizer to become CEO of Novartis Oncology, but the appointment of a new global drug development head at the Swiss multinational has yet to be announced.