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Novartis AG latest news:
Narasimhan to Replace Jimenez as Novartis (NVS) CEO in 2018
Novartis AG NVS announced that its Chief Executive Officer CEO Joseph Jimenez will step down from his position in 2018 Vasant Narasimhan M D Global Head of Drug Development and Chief Medical Officer will replace him effective Feb 1 2018 Narasimhan is a member of the Executive
BRIEF-Novartis Pharma reports a 6.6 percent passive stake in Xoma Corp as of August 24, 2017
* Novartis Pharma AG reports a 6.6 percent passive stake in
Xoma Corp as of august 24, 2017 - SEC filing
Source text for Eikon: (http://bit.ly/2gEet2Y)
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Novartis CEO Jimenez to step down early next year
Novartis says CEO Joseph Jimenez will step down early next year and be replaced by fellow American Vasant Narasimhan, a longtime manager with the Swiss pharmaceutical company
Novartis's Jimenez stepping down, Narasimhan named new CEO
ZURICH (Reuters) - Novartis Chief Executive Joseph Jimenez will retire in 2018, with chief drug developer Vasant Narasimhan taking over as CEO starting in February, the Swiss drugmaker said on Monday.
Why Novatis' $475K CAR-T Cancer Treatment Is Actually Cheap
The cancer treatment industry is celebrating a massive victory on Wednesday as Novartis NVS received approval for its innovative new lymphoblastic leukemia treatment making it the first approved CAR T therapy in the world After achieving unprecedented results in patients with this deadly
BRIEF-Novartis receives FDA approval for CAR-T cell therapy Kymriah
* Novartis receives first ever FDA approval for a CAR-T cell
therapy, Kymriah™ (tisagenlecleucel, CTL019), for children and
young adults with B-cell ALL that is refractory or has relapsed
at least twice
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Biotech stocks rally, ETF on track for third straight daily gain
Biotechnology stocks rallied on Wednesday, with one of the biggest exchange-traded funds dedicated to the sector on track for its third straight daily advance. The iShares Nasdaq Biotechnology ETF gained 1.3%, bringing its week-to-date rise to 3.6%. Among the biggest gainers in the sector, Gilead Sciences Inc. popped 5.6%, bringing its gain over the past three months to 23.7%. The stock is on track for its largest percentage gain since November, as well as its highest close since September 2016. Separately, Incyte Corp. added 4.5% while BioMarin Pharmaceutical Inc. advanced 4.8%. Biogen Inc. gained 2.4% while Regeneron Pharmaceuticals Inc. was up 2%. On the downside within the pharmaceutical sector, U.S.-listed shares of Novartis AG were down 1%. The company's CAR-T cell therapy was approved by the Food and Drug Administration on Wednesday, making it the first gene therapy to be available in the U.S. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Novartis AG's CAR-T cell therapy for leukemia approved by FDA in 'historic action'; price to be based on outcomes
Novartis AG's CAR-T cell therapy was approved by the Food and Drug Administration on Wednesday, making it the first gene therapy to be available in the U.S. Novartis' Kymriah was approved for young people up to age 25 with a form of acute lymphoblastic leukemia. CAR-T, or chimeric antigen receptor T-cell therapy, uses a patient's immune T-cells and re-engineers them to better fight cancer. As such, each dose of Kymriah is customized to the individual patient's T-cells through genetic modification. Novartis said on Wednesday that it will work with the Centers for Medicare and Medicaid Services so medicine prices can be "based on the clinical outcomes achieved, which would eliminate inefficiencies from the health care system." For Kymriah, Novartis is also working with CMS "to allow for payment only when pediatric and young adult ALL patients respond to Kymriah by the end of the first month." Novartis did not give any specifics as to what the price range might be. Even before Novartis' Kymriah was approved, there was concern about pricing of the new therapy, given that new therapies are typically priced based on level of innovation and cancer is a particularly expensive area. On Wednesday, the FDA also expanded approval of Roche's Genentech's rheumatoid arthritis drug Actemra to treat CAR-T cell-induced cytokine release syndrome, which consists of high fever and flu-like symptoms and can be life-threatening; nearly 70% of patients had CRS completely resolved in two weeks using one or two doses of Actemra, the FDA said. Kite Pharma, which is also working in the CAR-T space, has also been racing to gain FDA approval; the biotech's $11 billion acquisition by Gilead Sciences Inc. was reported earlier this week. Gilead shares surged 5.5% in extremely heavy midday trade. Novartis shares declined 1% in heavy midday trade. Novartis shares have risen 2.8% over the last three months, compared with a 1.6% rise in the S&P 500 .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Novartis gene therapy for leukemia wins U.S. approval
Aug 30 (Reuters) - The U.S. Food and Drug Administration
(FDA) on Wednesday approved Novartis AG's
keenly anticipated leukemia treatment, marking the first gene
therapy approval in the United States.
UPDATE 1-Novartis hopeful for novel heart drug, despite 'modest' benefit
* Novartis plans Q4 filing with regulators
(Adds analyst comment on pricing)
Novartis (NVS) Receives EC Approval for Breast Cancer Drug
Novartis AG NVS announced that the European Commission EC has approved breast cancer drug Kisqali ribociclib The EC approved the drug in combination with an aromatase inhibitor for treatment of postmenopausal women with hormone receptor positive human epidermal growth factor receptor
Novartis picks retail expert for new role of digital chief
LONDON, Aug 24 (Reuters) - Novartis has appointed a
senior retail expert to the new post of chief digital officer,
following a similar move by GlaxoSmithKline last month,
underscoring how drugmakers are grappling with the impact of new
Reps. Cummings, Welch to launch investigation into multiple sclerosis drug prices
Rep. Elijah Cummings (D-Md.) and Rep. Peter Welch (D-Vt.) said Thursday morning that they are launching an investigation into multiple sclerosis drug prices, and have sent letters to seven pharmaceutical companies about their pricing strategies. Letters were sent to Bayer AG , Biogen Inc. , Merck & Co.'s EMD Serono, Novartis AG , Sanofi SA , Teva Pharmaceutical Industries Ltd. and Roche Holding AG . Biogen shares declined 2.9% in heavy midday trade and Teva shares declined 1.1% in moderate trade. The lawmakers asked for information to evaluate multiple sclerosis drugs' "substantial price increases, including information about corporate profits and expenses and documents concerning pricing strategies, patient assistance programs, and drug distribution systems," and requested a response by the end of the month. The average price of a multiple sclerosis disease-modifying therapy rose from $16,000 in 2004 to about $84,000 in 2017, according to the National Multiple Sclerosis Society (the numbers refer to average wholesale price, which does not reflect often-substantial discounts and rebates). Prices for drugs sold by the seven drugmakers have increased by as much as 1,002% since 2012, according to information from the National Multiple Sclerosis Society cited by the two representatives. The lawmakers said that their letter referred to an American Academy of Neurology study that found "some drug companies appear to be increasing their prices and setting new, higher prices in lockstep in competitors," which may reflect a phenomenon called "shadow pricing" in which companies respond to eachothers' price increases. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
United Therapeutics Corp. stock surges 9% on report of possible bids for company
United Therapeutics Corp. shares surged 8.7% premarket on Friday after a news report suggested that major pharmaceutical companies were weighing a bid for it. The Evening Standard report said that Gilead Sciences Inc. is considered the frontrunner, while GlaxoSmithKline PLC and Novartis AG are also possible contenders. Glaxo and United Therapeutics declined to comment to the Evening Standard. United Therapeutic, which was founded by Martine Rothblatt, a co-founder of Sirius XM , currently has five products on the market, four of which treat pulmonary arterial hypertension; the fifth is intended for pediatric cancer patients. United Therapeutics shares have dropped 11.5% year-to-date, compared with a 10.4% rise in the S&P 500 .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
U.S. jury sides with Amphastar over Momenta in drug patent trial
Amphastar Pharmaceuticals Inc(AMPH) on Friday won a trial in a lawsuit claiming that the drugmaker through its production of a generic version of the blood-thinner Lovenox infringed a patent held by Momenta Pharmaceuticals Inc. The verdict by a federal jury in Boston came in a long-running lawsuit pursued by Cambridge, Massachusetts-based biopharmaceutical company Momenta and its partner, Novartis AG...
UPDATE 1-Novartis sees Alcon recovery opening door to spin-off IPO
* Sandoz hit again by U.S. price pressure
(Adds comment from CEO, analyst, details throughout)
Novartis net profit grows 10 percent in Q2, but sales dip
Swiss pharmaceutical company Novartis says its net profit rose 10 percent in the second quarter, helped by gains from divestments.
Novel leukemia treatment could be 1st US gene therapy
Cancer experts who advise government regulators are reviewing what could be the first gene therapy approved in the U.S. The Food and Drug Administration panel is holding a hearing Wednesday to discuss the treatment developed by the University of Pennsylvania and Novartis Corp.
Novartis gets FDA panel recommendation for leukemia drug approval
U.S. shares of Novartis AG rose in the extended session Wednesday after a Food and Drug Administration advisory panel unanimously recommended that the agency approve one of its cancer drugs. U.S.-traded Novartis shares rose 1.7% to $84.60 after hours. The company said the FDA's Oncologic Drugs Advisory Committee voted 10 to 0 in favor of approving Novartis's drug tisagenlecleucel for the treatment of children and young adults with B-cell acute lymphoblastic leukemia, a type of blood cancer. The FDA is not obligated to follow the recommendations of its advisory panels but generally does.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Pioneering cancer gene therapy by Novartis backed by U.S. panel
Novartis AG's pioneering cancer drug won the backing of a federal advisory panel on Wednesday, paving the way for the first gene therapy to be approved in the United States.
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