Novartis

Novartis shares dropped around 5% after it reported fourth-quarter earnings and sales that missed consensus expectations and issued guidance that analysts said fell short of hopes. Novartis shares dropped around 5% after it reported fourth-quarter earnings and sales that missed consensus expectations and issued guidance that analysts said fell short of hopes. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In…

Isomorphic Labs, the London-based, drug discovery-focused spin-out of Google AI R&D division DeepMind, today announced that it’s entered into strategic partnerships with two pharmaceutical giants, Eli Lilly and Novartis, to apply AI to discover new medications to treat diseases. The deals have a combined value of around $3 billion. Isomorphic will receive $45 million upfront from Eli Lilly and potentially up to $1.7 billion based on performance milestones, excluding royalties. Novartis,…

Magic mushrooms might have helped alleviate color blindness in at least one case. In a paper this week, doctors describe a man who experienced modest, long-lasting improvements in his red-green color vision after a single dose of psilocybin-containing mushrooms. The report is only an anecdote at this point but should merit further research, the authors say.Why Hollywood Writers Are Striking Over AI | Future TechPsilocybin is the primary active ingredient in psychedelic mushrooms. It and other psychedelic drugs have…

A drug used to extend the lives of people with advanced prostate cancer is in short supply and will be for months, leaving some patients with no treatment option as the manufacturer works to ramp up production.  The Food and Drug Administration said last week the availability of Pluvicto is limited as manufacturer Novartis AG struggles to meet demand. The drugmaker said the shortage stems from manufacturing and delivery issues.  Novartis said it is prioritizing the supply for patients who…

An unprofitable biotech that pioneered a relatively new kind of cancer therapy has caught the attention of the world’s largest drugmakers on the hunt for the next big opportunity in one of the industry’s most lucrative markets.  Seagen Inc. sells three of the novel cancer agents—known as antibody drug conjugates, or ADCs—that work like a guided missile attacking tumors with toxins. Although the company’s products generate around $2 billion in yearly sales and the company operates at a loss,…

Pfizer Inc. PFE -1.30% is in talks to acquire biotech Seagen Inc., SGEN -0.51% according to people familiar with the matter, the latest potential deal for a big drug company aimed at adding a promising class of targeted cancer therapies. The talks are at an early stage and there is no guarantee there will be a deal, the people said. A number of hurdles would need to be overcome,…

Pharmaceutical companies raised list prices of 983 arthritis, cancer and other prescription drugs by an average of 5.6% at the start of this year—restrained increases as the industry faces a new federal law aimed at lowering medicine costs. Pfizer Inc., Novartis AG and Eli Lilly & Co. are among the companies that took the price increases through Jan. 31, according to 46brooklyn Research, a nonprofit drug-pricing analytics group. In recent…

Novartis said in August that it plans to spin off its generics unit Sandoz to sharpen its focus on its patented prescription medicines.Bloomberg | Bloomberg | Getty ImagesThe chief executive of Swiss pharmaceutical giant Novartis on Thursday warned the coronavirus pandemic will likely settle into an endemic phase and renewed calls for policymakers to sufficiently finance pandemic preparedness."If you look over the last two years, we have populations that have built up immunity, you have a virus that's continuing to make…

A new era of expensive drugs has arrived: medicines priced in the millions of dollars a patient.Since August, U.S. or European health regulators have approved four new products intended as one-time treatments for rare genetic diseases that carry list prices of at least $2 million a patient, including two from Bluebird Bio Inc. The most recent one approved in the U.S. set a price record: $3.5 million for CSL Ltd. ’s Hemgenix, a treatment for the blood disorder…

Clovis Oncology Inc., maker of the ovarian and prostate cancer drug Rubraca, filed for bankruptcy over the weekend with a proposed deal in hand to sell its rights to a cancer therapy under development to Swiss pharmaceutical giant Novartis AG . Novartis Innovative Therapies AG has agreed to make an upfront payment of $50 million for Clovis’s clinical candidate, FAP-2286, and could pay an additional $333.75 million if certain development milestones are reached, plus $297 million for subsequent sales…