Greece’s Health Minister Thanos Plevris announced plans to sue Novartis over what he alleges are illegal practices. The scandal has been playing out for several years, with Novartis alleged to have paid Greek public officials and health care providers to increase prescriptions for the company’s drugs and maintain higher prices.
Novartis’ Sandoz business unit saw a strong financial performance in the first quarter of 2022, with overall sales growth of 8 percent, mostly outside of the United States. Sales for the generics and biosimilar unit benefited from what the company called a normalization of the impacts of COVID-19.
Pharmaceutical giant Novartis announced a global restructuring that will reportedly include cutting thousands of jobs.
As Novartis explores the possible sell-off of its Sandoz business, the company is undergoing a significant transformation that it says will save about $1 billion in operations costs by 2024.
A federal judge in Delaware tossed out a lawsuit by Roche company Genentech accusing Novartis’ Sandoz division of patent infringement. In this case, the patent was related to Genentech’s Esbriet (pirfenidone), which is used to treat idiopathic pulmonary fibrosis.
Novartis is going full steam ahead with the company’s cancer development efforts, posting positive results from two ongoing trials for lymphoma and leukemia.
With companies like GlaxoSmithKline and bluebird bio moving closer to splitting their businesses into multiple entities, Novartis is reviewing the Swiss drugmaker’s Sandoz division to determine the best moves going forward to maximize value for shareholders.
The U.S. Supreme Court on May 17 dashed Novartis AG’s hopes of launching a generic version of Amgen Inc.’s multibillion-dollar rheumatoid arthritis medicine Enbrel, declining to hear the company’s challenge to two patents on the drug.
Sandoz, a division of Swiss-based Novartis, inked a deal to buy U.K.-based GlaxoSmithKline’s cephalosporin antibiotics business.