Early Assets Excite At Novartis R&D Day
430 drug discovery projects trimmed to 325
Executive SummaryNIBR chief Jay Bradner tells Scrip that the Swiss major's focus is on developing first in class therapies rather than 'fast-follower' research seen across the biopharma sector.
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Any lingering hopes Novartis had that fevipiprant could become a blockbuster have disappeared and the Swiss major has ended development of the asthma drug after two more trials failed, this time for severe disease.
The company Novartis is buying for $9.7bn is largely unrecognizable from the one Clive Meanwell started in 1996, grew into a multi-product hospital specialist and began to sunset in 2015 with the loss of Angiomax.
The small biotech firm has traded higher in recent months based on Amgen’s AMG 510 results to date, and saw its share price soar based on initial efficacy data for MRTX849 in lung and colorectal cancers.