|Bid||93.95 x 800|
|Ask||93.96 x 900|
|Day's Range||93.67 - 95.00|
|52 Week Range||72.27 - 95.00|
|Beta (3Y Monthly)||0.55|
|PE Ratio (TTM)||17.80|
|Forward Dividend & Yield||2.83 (3.14%)|
|1y Target Est||N/A|
Novartis and eBay grabbed early leads Thursday as Netflix slammed the Nasdaq, even as an analyst upgrade lifted Dow Jones stock Apple toward a buy point.
Novartis earnings topped views, while Q2 revenue was in line. The Swiss drug giant raised some 2019 guidance. Shares leapt toward a record high.
Novartis boss Vas Narasimhan raised full-year targets on Thursday and announced that $700 million has been set aside in the hope of settling a decade-old lawsuit alleging that the Swiss drugmaker bribed U.S. doctors. Shares in the company rose about 5% to their highest since 2015, buoyed by second-quarter results, earnings guidance and the prospect of avoiding trial in a case that began in 2011 as a whistleblower lawsuit filed by a former employee. The lawsuit, since joined by the U.S. government, contends that Novartis paid millions of dollars in kickbacks to doctors so they would prescribe its products, including hypertension treatment Lotrel and diabetes drug Starlix.
(Bloomberg) -- Novartis AG raised its earnings outlook for the second time this year, driving the shares to an all-time high, and said the launch of its $2.1 million gene therapy is on track despite concerns over coverage barriers.Earnings excluding some items are expected to increase by a low double-digit to mid-teens percentage this year, the Basel, Switzerland-based company said. Novartis previously forecast a high single-digit percentage increase. The stock climbed as much as 3.4% in Zurich.The Swiss drugmaker also boosted its outlook for sales, new medicines and the Sandoz generics unit as Chief Executive Officer Vas Narasimhan work to reshape the company’s strategy begins to pay off. Narasimhan has spun off the Alcon eye-care division, ditched a stake in a consumer-health venture and unveiled a series of acquisitions after taking the helm early last year.Novartis at the same time has sought to sharpen its focus on cutting-edge drugs for cancer and rare illnesses, rolling out products like gene therapy Zolgensma aimed at a devastating muscle disease. Approved in the U.S. in May, the treatment has experienced “strong uptake,” Narasimhan told reporters.While analysts have flagged restrictions with U.S. health-care providers, the CEO said on a call that the launch is progressing in line with expectations. Novartis has contracts with insurers covering about 40% of patients with commercial health plans, Narasimhan said. The company said in May it expected to have 30% coverage in the first month after approval. He added that four state Medicaid plans have Zolgensma coverage in place.Nearly all patients who have sought the therapy and are eligible based on the drug’s label “have achieved an approval to be treated with the medicine after the appropriate steps are taken,” he said. “We’re continuing to advance our efforts, both getting medical policies in place and contracts in place with key payers.”Novartis shares have climbed about 24% this year, doubling the gain in the Bloomberg index that tracks European pharma companies.Novartis also has set aside about $700 million for a potential settlement in a U.S. case involving allegations it paid kickbacks to doctors who prescribed its drugs. A letter made public last month said the parties had made “significant progress” on reaching a deal.Psoriasis treatment Cosentyx, poised to become the company’s top seller this year after a 25% sales boost last quarter, is also in focus amid rising competition in the immunology field.Novartis already raised its profit forecast in April, saying it expected earnings excluding some items to increase by a high single-digit percentage. At the time it left its sales outlook unchanged. Sales are now expected to grow by a mid to high-single digit percentage.To contact the reporter on this story: James Paton in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Eric Pfanner at email@example.com, John LauermanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Gene therapy developers might steal all of the headlines, but manufacturing is likely to be the more lucrative investing opportunity -- for both companies and investors.
Novartis (NVS) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Mallinckrodt (MNK) halts its phase IIB study, assessing the efficacy and safety of Acthar Gel as an investigational treatment for amyotrophic lateral sclerosis.
Novartis AG (NVS) gained 1.1% so far in trading this week. Plus, the Swiss multinational pharmaceutical company has been on a tear since the end of April, up 18.2%. Now let's see what investors should expect heading into its Q2 2019 earnings release on Thursday.
Investors will focus on regular top- and bottom-line numbers along with pipeline updates when Novartis (NVS) reports second-quarter results.
Japanese drugmaker Eisai is investing $120 million over three years in an Alzheimer's research center — a 20 percent increase over the funding Eisai originally had allocated for the facility.
The FDA accepts Novartis' (NVS) BLA for crizanlizumab and grants Priority Review to the same to prevent pain crises in patients with sickle cell disease.
Eton's (ETON) partner receives complete response letter for a regulatory application seeking approval of its pipeline candidate, EM-100, as a treatment for ocular itching.
The U.S. Justice Department is reportedly pursuing a criminal investigation as to whether J&J (JNJ) lied about the possible cancer risk associated with its talcum powder.
GlaxoSmithKline is to hire Jonathan Symonds, a former finance director at rival drugmakers AstraZeneca and Novartis, as its new chairman to oversee a break-up of the UK pharmaceuticals group. The appointment of Mr Symonds, who is currently deputy group chairman of HSBC, will end a six-month search for a replacement for Sir Philip Hampton, who has been non-executive chairman of GSK since 2015. Mr Symonds has extensive experience of the pharmaceutical industry.
Amgen (AMGN) and Novartis (NVS) discontinue two Alzheimer's disease studies. Alzheimer's has always been a highly challenging area with many studies failing.
A drug to treat Alzheimer's disease is increasingly proving elusive, despite billions of dollars spent on research and development. Johnson & Johnson (NYSE: JNJ )'s Janssen unit; Merck & Co., Inc. (NYSE: ...
Aimmune's (AIMT) peanut allergy candidate AR101 attracts negative review from ICER, stating risks outweighs benefits in patients. AR101 is under review and a decision is expected by January 2020.
Dow Jones futures: Illumina stock and profitable marijuana stock Innovative Industrial Properties fell late on news. An Amgen-Novartis Alzheimer's drug failed. Hookipa Pharma soared.
Here's a roundup of top developments in the biotech space over the last 24 hours: Scaling The Peaks (Biotech stocks hitting 52-week highs on July 11) Enlivex Therapeutics Ltd (NASDAQ: ENLV ) GALAPAGOS ...