STAT+: Pharmalittle: Novartis boosts its sales and profit outlook; Biogen trims its drug pipeline
Novartis raised its full-year sales and profit projections thanks to a crop of new medicines that beat Wall Street's expectations.
Good morning, one and all. Damian Garde here, filling in for Ed Silverman on an unseasonably cold day of what is canonically the cruelest month. Here is your regularly scheduled menu of tidbits to help get your day started, and, as always, if you hear anything interesting out there, do let us know. …
Novartis raised its full-year sales and profit projections thanks to a crop of new medicines that beat Wall Street’s expectations over the last quarter, Bloomberg reports. The company’s share price reached its highest mark since 2020 due to strong sales for treatments for cancer, multiple sclerosis, and psoriasis. Novartis is in the process of separating from Sandoz, its generics business, and streamlining its management structure, two things CEO Vas Narasimhan said would help the company cut costs.
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