Narasimhan: Novartis' Specialized Portfolio Will Lead To Bigger Breakthroughs And Greater Value
At Novartis’s first R&D day since he took the helm, new CEO Vas Narasimhan told Scrip about how the company plans to build value through its newly acquired breakthrough technologies and what deals it is looking for next.
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At $10.9bn, biopharma financing was at its lowest quarter of the year. GSK’s $5.1bn acquisition of oncology player Tesaro led M&As. And 13 partnerships exceeded the $1bn mark, led by two agreements focused on RNAi.
As Novartis looks to move out of much of its ophthalmology research with the forthcoming spinoff of Alcon, fellow Swiss firm Oculis has licensed one of its assets and secured new financing to progress its back-of-the-eye treatments.
Endocyte paid just $12m upfront a year ago for a potential first-in-class investigational radioligand therapy for prostate cancer. Novartis is buying Endocyte for a whopping $2.1bn., highlighting the company's emphasis on building in radiopharmaceuticals.