article thumbnail

Novartis begins plans to spin off generic drug business

Bio Pharma Dive

After reviewing multiple options including a possible sale, the Swiss drugmaker said spinning off Sandoz would give the division “greater freedom to operate” and capitalize on newly growing sales.

article thumbnail

Novartis raises drug sales forecast, plans new stock buybacks

Bio Pharma Dive

The pharma company, which will soon split off its generic drug unit, plans to repurchase up to $15 billion of its shares through the end of 2025.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Novartis to consider sale or separation of Sandoz business

Bio Pharma Dive

The generic drug unit has struggled in recent years, while Novartis has moved to focus more narrowly on higher-margin branded medicines.

article thumbnail

Top biopharmaceutical Covid-19 vaccine companies boosted with over 80% revenue growth

Pharmaceutical Technology

As a result of huge global sales of mRNA Covid-19 vaccines, the split in profits between Pfizer and BioNTech’s Comirnaty contributed towards revenues of $81.3bn and $22.4bn last year, respectively. Pfizer reaped $36.8bn from Comirnaty, the highest revenue generated from Covid-19 vaccine sales worldwide. YoY revenue growth.

article thumbnail

Dormant drug status can trigger generic access to an alternate Canadian Reference Product

Pharma in Brief

The Notice advises that if an innovative drug is categorized as “Dormant” in Health Canada’s Drug Product Database, then a generic manufacturer can compare its drug against an alternate CRP, which could include another generic drug, when filing an Abbreviated New Drug Submission ( ANDS ).

article thumbnail

Downturn for top biopharma companies Q3 market cap as Covid-19 vaccine demand falls

Pharmaceutical Technology

The growing competition from generic drugs presents challenges for the top 20 players placing pressure on drug prices. Despite a drop in sales from Regeneron’s COVID-19 antibody, REGEN-COV, due to ineffectiveness against the Omicron variant, the company experienced record US sales of $1.63 and 10%, respectively.

Marketing 130
article thumbnail

Market cap downturn hits over half of top 20 biopharmaceutical companies in Q1 2023

Pharmaceutical Technology

increase in market capitalisation over Q1 2023, fuelled by its robust portfolio of diabetes and obesity treatments – in particular, its line of glucagon-like peptide 1 receptor agonist (GLP-1) Type 2 diabetes drugs Ozempic, Rybelsus and Victoza. Novo Nordisk reported an 18.2% million by 2029.

Marketing 130