Novartis China Drive Paying Off, Sales Soar On Reimbursement Inclusion
Sales of the Swiss drug maker's major plaque psoriasis treatment Cosentyx in China quadrupled in the second quarter, despite its price being slashed by more than 60%.
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Sales at the Swiss major have returned to around 80%-90% of their pre-pandemic levels, according to CFO Harry Kirsch after unveiling a healthy set of second-quarter financials.
China's latest round of reimbursement decisions show multinationals including AstraZeneca, BMS and Roche won’t be receiving national coverage for their latest immuno-oncology drugs any time soon.
Any delays caused by unpredictable regulatory reviews related to the export of genetic materials threaten to derail the inclusion of China in international clinical trials, caution two trade groups representing the pharma industry in the country.