At the Meet Novartis Management investor event, Novartis highlights focus on innovation and productivity; expects the next growth phase to begin in 2018
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Novartis International AG /
At the Meet Novartis Management investor event, Novartis highlights focus on
innovation and productivity; expects the next growth phase to begin in 2018
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The issuer is solely responsible for the content of this announcement.
* Building depth across key therapeutic areas with 12 potential blockbusters
in late stage development and 40 potential filings in US and EU between
2017-2020
* Focused and taking steps to become stronger and more integrated through
centralized manufacturing, development and business services
* Poised for next growth phase, anticipated to begin in 2018
Boston, May 31, 2017 - Today Novartis holds its fourth annual Meet Novartis
Management event at its research headquarters in Cambridge, MA, giving investors
and analysts the opportunity to meet with 30 executives across its three
divisions, R&D functions and operations. The meeting provides a deeper view into
the company's strategy for long-term, sustainable value creation, as well as the
key drivers for future performance.
"We have reshaped our company to build depth in areas where we are strongest and
focus on innovation. We have a strong foundation for our next growth phase
expected to start in 2018 with Cosentyx(®), Entresto(®), and other growth
drivers such as Kisqali(®), as well as leading positions in the generics and eye
care divisions", said Novartis CEO, Joseph Jimenez.
In Global Drug Development, management provides insight into the broad, high
value late stage pipeline with depth and quality assets in each therapeutic area
(for example Kisqali(®), CTL019, BAF312, AMG 334, RTH258). These late stage
assets are followed up with a strong and diverse set of emerging phase II assets
from NIBR as well as from external collaboration, including several recent deals
in NASH and opthalmology. Additionally, the team is pursuing new indications for
commercialized drugs including Cosentyx(®), Entresto(®) and key oncology assets.
Management confirms filings of BAF312 and SEG101 planned for 2018 and is
advancing the biosimilar portfolio with 2 recent EMA file acceptances following
2 recent CHMP positive opinions. In addition our CAR-T cell program continues to
advance in a range of hematological and solid tumors including emerging programs
in Chronic Lymphocytic Leukemia (CLL) and Follicular Lymphoma (FL). Global Drug
Development is focused on operational agility and productivity with the goal to
invest approximately 20% of Innovative Medicines sales in Research and
Development in the near term.
For the Innovative Medicines Pharmaceuticals business unit, management
highlights continued Entresto(® )launch momentum by expanding prescriber breadth
and depth, improving access and affordability, and increasing its ex-US sales
contribution. In the US, more than half of Medicare patients have no prior
authorization requirement, in addition, over half of Medicare patients have a
co-pay of approximately USD 10 per month. New weekly prescriptions and the
number of US cardiologists that have prescribed Entresto(®) have both doubled
since last year and global access is improving with Entresto(®) now approved in
80 countries.
Management also highlights the continued strong uptake of Cosentyx(®) across its
three indications and in multiple geographies, reflecting its best-in-class
profile. Cosentyx(®) is the only anti-IL17a approved in Psoriasis (PsO),
Psoriatic Arthritis (PsA) and Ankylosing Spondylitis (AS), with strong,
sustained efficacy in a majority of patients even after 4 years in PsO, 3 years
in PsA, and 2 years in AS.
Management discusses building depth in the other franchises. In neuroscience,
AMG 334 (erenumab) treatment for migraine prevention was submitted to the US
Food and Drug Administration (FDA) and the European Medicines Agency (EMA), and
Novartis recently reached a US co-commercialization agreement with Amgen. In
ophthalmology, the RTH258 trials for wet AMD are expected to provide further
clarity in the coming weeks; the pipeline contains exciting assets including
potential treatments for dry eye and presbyopia. In respiratory, Xolair(®) and
Ultibro(®) continue to drive growth while we develop new assets in COPD, asthma
and Cystic Fibrosis.
The Innovative Medicines Oncology business unit is advancing the Novartis
Immuno-oncology (IO) strategy to win with CAR-T and accelerating development of
second generation combinations with PD-1. Novartis Oncology has built one of the
broadest IO pipelines in the industry with 18 assets in the clinic, and 22
(IO/IO, IO/Targeted Therapies and IO/chemo) combination trials in clinic by the
end of 2017.
Targeted therapies are expected to continue to constitute the largest segment of
the oncology sector. Kisqali(®), a CDK4/6 inhibitor for the treatment of
advanced breast cancer in combination with an aromatase inhibitor and one of our
recently-approved targeted therapies, was launched in the US in March.
Kisqali(®) is expected to be a key growth driver for the oncology business.
Additionally, in-market products including Tafinlar(®) + Mekinist(®),
Promacta(®) and Jakavi(®) are expected to continue growing strongly.
In Sandoz, management discusses promising planned biosimilars launches and
pipeline potential, the significant 2017 US pricing pressures and the impact of
the delayed Glatopa(®) 40mg launch. The impact of US pricing pressure and prior
year launch timing is expected to have a higher impact on Q2 2017 sales growth
than Q1; full year 2017 Sandoz sales guidance, expected to be broadly in line
with prior year, remains unchanged.
Management also outlines the Sandoz strategy for profitable growth, both in the
US and globally. Expansion of its leading global position in biosimilars will be
a key growth driver, with five major biosimilar launches planned in the EU and
US between now and 2020. Additional long-term growth is expected to come from
building out the current base business into areas such as complex generics,
value-added medicines, branded generics and OTC. For example, the EMA has
accepted for regulatory review our Marketing Authorization Applications for
biosimilars to AbbVie's Humira(®) (adalimumab) and Janssen's Remicade(®)
(infliximab), both of which are used to treat immunological diseases. Sandoz is
seeking approval for biosimilar adalimumab and infliximab for use in all
indications of their respective reference medicines.
In Alcon, investors and analysts are able to get more insight into the eye care
business. Alcon is the global market leader in eye care, with number one or two
positions in the growing Surgical and Vision Care markets in every region of the
world. Alcon sales grew slightly in Q1 of 2017, for the first quarter in two
years. Innovation is accelerating, including recent launches of CyPass(®) for
minimally invasive glaucoma surgery and the ACTIVEFOCUS(®) IOL for correcting
both presbyopia and astigmatism. With continued innovation, investment and
improved operations, Alcon expects to return to long-term, sustainable growth
with margins in line with industry peers.
In closing, Group management reiterates the overall strategy for Novartis value
creation. Through innovation, Novartis expects to continue to build depth in key
therapeutic areas while preserving flexibility to follow the science outside
those areas. Our key growth products are expected to drive the next phase of
growth that is anticipated to start in 2018. Centralizing functions like Global
Drug Development, Manufacturing and Novartis Business Services is expected to
drive productivity and create a stronger company for the future. This would
allow Novartis to create shareholder value. The Novartis capital allocation
strategy remains unchanged. Our priorities are first investing organically, then
growing the annual dividend in CHF, making value creating bolt-on acquisitions
and finally executing share buy backs. As announced in January 2017, Novartis is
conducting a strategic review of the Alcon Division exploring all options to
maximize value for our shareholders. The review is on track and Novartis expects
to provide a status update towards the end of 2017.
For background slides and webcast (audio only) please refer to the following
link: http://www.novartis.com/investors/event-calendar/index.shtml
The background slide decks will be available on Wednesday May 31(st), 2017 at
7am CET.
Disclaimer
This press release contains forward-looking statements that can be identified by
words such as such as "focus," "leading to," "from 2018 onwards," "building,"
"potential," "focused," "taking steps," "poised," "growth phase," "anticipated,"
"strategy," "long-term," "sustainable," "key drivers," "to build," "expected,"
"growth drivers," "pipeline," "emerging," "pursuing," "accelerated,"
"advancing," "focused," "goal," "in the near term," "continued," "launch,"
"momentum," "improving," "submitted," "in the coming weeks," "exciting,"
"continue," "pipelines," "launched," "launches," "mid and long term," "will,"
"growth driver," "planned," "seeking," "growing," "accelerating," "expects,"
"growth products," "anticipated," "for the future," "would," "strategic review,"
"exploring," "options," "to maximize," "on track," "towards," or similar
expressions, or by express or implied discussions regarding potential new
products, potential new indications for existing products, or regarding
potential future revenues from any such products; potential shareholder returns
or credit ratings; or regarding the potential outcome of the announced review of
options being undertaken to maximize shareholder value of the Alcon Division; or
regarding the potential financial or other impact on Novartis or any of our
divisions of the significant reorganizations of recent years, including the
creation of the Pharmaceuticals and Oncology business units to form the
Innovative Medicines Division, the creation of the Global Drug Development
organization and Novartis Operations (including Novartis Technical Operations
and Novartis Business Services), the transfer of the Ophthalmic Pharmaceuticals
products of our Alcon Division to the Innovative Medicines Division, the
transfer of selected mature, non-promoted pharmaceutical products from the
Innovative Medicines Division to the Sandoz Division, and the transactions with
GSK, Lilly and CSL; or regarding the potential impact of the share buyback plan;
or regarding potential future sales or earnings of the Novartis Group or any of
its divisions; or by discussions of strategy, plans, expectations or intentions.
You should not place undue reliance on these statements. Such forward looking
statements are based on the current beliefs and expectations of management
regarding future events, and are subject to significant known and unknown risks
and uncertainties. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those set forth in the forward looking statements.
There can be no guarantee that any new products will be approved for sale in any
market, or that any new indications will be approved for any existing products
in any market, or that any approvals which are obtained will be obtained at any
particular time, or that any such products will achieve any particular revenue
levels. Nor can there be any guarantee that the review of options being
undertaken to maximize shareholder value of the Alcon Division will reach any
particular results, or at any particular time. Neither can there be any
guarantee that Novartis will be able to realize any of the potential strategic
benefits, synergies or opportunities as a result of the significant
reorganizations of recent years, including the creation of the Pharmaceuticals
and Oncology business units to form the Innovative Medicines Division, the
creation of the Global Drug Development organization and Novartis Operations
(including Novartis Technical Operations and Novartis Business Services), the
transfer of the Ophthalmic Pharmaceuticals products of our Alcon Division to the
Innovative Medicines Division, the transfer of selected mature, non-promoted
pharmaceutical products from the Innovative Medicines Division to the Sandoz
Division, and the transactions with GSK, Lilly and CSL. Neither can there be any
guarantee that shareholders will achieve any particular level of shareholder
returns. Nor can there be any guarantee that the Group, or any of its divisions,
will be commercially successful in the future, or achieve any particular credit
rating or financial results. In particular, management's expectations could be
affected by, among other things: regulatory actions or delays or government
regulation generally; the potential that the strategic benefits, synergies or
opportunities expected from the significant reorganizations of recent years,
including the creation of the Pharmaceuticals and Oncology business units to
form the Innovative Medicines Division, the creation of the Global Drug
Development organization and Novartis Operations (including Novartis Technical
Operations and Novartis Business Services), the transfer of the Ophthalmic
Pharmaceuticals products of our Alcon Division to the Innovative Medicines
Division, the transfer of selected mature, non-promoted pharmaceutical products
from the Innovative Medicines Division to the Sandoz Division, and the
transactions with GSK, Lilly and CSL may not be realized or may take longer to
realize than expected; the inherent uncertainties involved in predicting
shareholder returns or credit ratings; the uncertainties inherent in the
research and development of new healthcare products, including clinical trial
results and additional analysis of existing clinical data; our ability to obtain
or maintain proprietary intellectual property protection, including the ultimate
extent of the impact on Novartis of the loss of patent protection and
exclusivity on key products which commenced in prior years and will continue
this year; safety, quality or manufacturing issues; global trends toward health
care cost containment, including ongoing pricing and reimbursement pressures,
such as from increased publicity on pharmaceuticals pricing, including in
certain large markets; uncertainties regarding actual or potential legal
proceedings, including, among others, actual or potential product liability
litigation, litigation and investigations regarding sales and marketing
practices, intellectual property disputes and government investigations
generally; general economic and industry conditions, including uncertainties
regarding the effects of the persistently weak economic and financial
environment in many countries; uncertainties regarding future global exchange
rates; uncertainties regarding future demand for our products; and uncertainties
regarding potential significant breaches of data security or data privacy, or
disruptions of our information technology systems; and other risks and factors
referred to in Novartis AG's current Form 20-F on file with the US Securities
and Exchange Commission. Novartis is providing the information in this press
release as of this date and does not undertake any obligation to update any
forward-looking statements as a result of new information, future events or
otherwise.
All product names appearing in italics are trademarks owned by or licensed to
Novartis Group Companies. Humira® is a registered trademark of AbbVie
Biotechnology Ltd. Remicade® is marketed by MSD in Europe and is a registered
trademark of Janssen Biotech, Inc.
About Novartis
Novartis provides innovative healthcare solutions that address the evolving
needs of patients and societies. Headquartered in Basel, Switzerland, Novartis
offers a diversified portfolio to best meet these needs: innovative medicines,
cost-saving generic and biosimilar pharmaceuticals and eye care. Novartis has
leading positions globally in each of these areas. In 2016, the Group achieved
net sales of USD 48.5 billion, while R&D throughout the Group amounted to
approximately USD 9.0 billion. Novartis Group companies employ approximately
118,000 full-time-equivalent associates. Novartis products are sold in
approximately 155 countries around the world. For more information, please visit
http://www.novartis.com.
###
Novartis Media Relations
Central media line: +41 61 324 2200
E-mail: media.relations(at)novartis.com
Eric Althoff
Novartis Global Media Relations
+41 61 324 7999 (direct)
+41 79 593 4202 (mobile)
eric.althoff(at)novartis.com
Novartis Investor Relations
Central investor relations line: +41 61 324 7944
E-mail: investor.relations(at)novartis.com
Central North America
Samir Shah +41 61 324 7944 Richard Pulik +1 212 830 2448
Pierre-Michel Bringer +41 61 324 1065 Cory Twining +1 212 830 2417
Thomas Hungerbuehler +41 61 324 8425
Media release (PDF):
http://hugin.info/134323/R/2108720/800994.pdf
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Novartis International AG via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 31.05.2017 - 07:00 Uhr
Sprache: Deutsch
News-ID 545337
Anzahl Zeichen: 19270
contact information:
Town:
Basel
Kategorie:
Business News
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