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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Former Novartis CEO Jimenez co-founded Aditum with former NIBR president Mark Fishman; they raised $133m and are launching Tempero Bio. Also, Atea, Galecto and SQZ went public along with one more health care SPAC, Royalty Pharma upped its Vertex royalty revenues and Mirati’s FOPO raised $926.3m.
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.