Novartis CEO Circumspect About Biotech Bargains
As Renowned Analyst Ronny Gal Jumps Aboard
Vas Narasimhan tells Scrip that a return to sensible valuations of biotechs could lead to increased deal-making but cautions that a number of those companies that went public "may not have been mature enough with their science” and their true value remains unclear.
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CEO Vas Narasimhan wants the company to be more agile and identify more blockbuster opportunities.
Novartis has led the sector in number of launches, but has failed to find a mega-blockbuster to lift its standing in the US – its CEO hopes new leaders can help turn that around.
The pipeline to treat the neurological disorder, which is characterized by uncontrolled rapid and repeated movements or sounds, is very thin but a couple of biotechs either side of the Atlantic are making progress.