|Bid||0.00 x 3000|
|Ask||0.00 x 1300|
|Day's Range||78.57 - 78.89|
|52 Week Range||72.30 - 94.19|
|PE Ratio (TTM)||23.10|
|Forward Dividend & Yield||2.98 (3.85%)|
|1y Target Est||88.16|
Novartis AG made misleading statements playing down its 2017 relationship with President Donald Trump’s then-personal lawyer, according to a report released Friday by Democratic senators that shed new light on the company’s consulting contract with the lawyer, Michael Cohen. The report also reveals Mr. Cohen’s advocacy for another pharmaceutical company, one the report says has ties to an investment firm associated with Viktor Vekselberg, a wealthy Russian businessman now under U.S. sanctions. The $1.2 million consulting deal with Novartis came to light in May. Then the Switzerland-based drug company said it hired Mr. Cohen for insight into how “the Trump administration might approach U.S. health-care policy matters,” but that executives realized from their first meeting with him in March 2017 that he wouldn’t be helpful and stopped engaging with him.
WASHINGTON (AP) — President Donald Trump's former personal lawyer, Michael Cohen, was in frequent contact with top officials of pharmaceutical giant Novartis as part of a $1.2 million consulting deal, and the Swiss-based company expected him to provide access to Trump administration policymakers, according to a report Friday by a group of Senate Democrats.
U.S. Senate Democrats are questioning the truthfulness of Novartis AG’s account of its relationship with Donald Trump’s lawyer, saying its ties were deeper than the Swiss drugmaker has acknowledged. An investigation by the lawmakers provided excerpts from emails and other documents to show that the business arrangement between Michael Cohen and the company extended longer than Novartis has previously said. While the pharma giant said it decided not to engage further with Cohen after an initial meeting with him in early 2017, Trump’s personal fixer and then-Chief Executive Officer Joe Jimenez had multiple discussions over the next six months, according to the report released Friday.
AT&T Inc. (t) failed to provide requested documents to a Senate investigation of payments made to President Donald Trump's former personal lawyer Michael Cohen via a shell company in the months after Trump's election in 2016, according to a report on the probe. AT&T, Swiss drug company Novartis (nvs) private-equity firm Columbus Nova, an investment company with ties to sanctioned Russian oligarch Viktor Vekselberga and Korea Aerospace Industries made payments totaling $4 million to Cohen, according to press reports and a memo released by Michael Avenatti, the lawyer representing Stephanie Clifford, a pornographic film actress known as "Stormy Daniels," who was paid $130,000 by the shell company to stay quiet about an alleged affair with Trump.
Novartis (NOVN.S) on Friday disputed a report from Democratic U.S. senators that concluded the Swiss drugmaker misled the public about its $1.2 million (914,076.78 pounds)contract with a former attorney for President Donald Trump. "We disagree with the report's conclusion that we issued a misleading public statement regarding the extent of our engagement with (Michael) Cohen," Novartis said of the report compiled by staff of Sen. Ron Wyden, from Oregon, and other minority party lawmakers. Among other things, the document contends that former Novartis Chief Executive Joe Jimenez had "multiple additional communications" with Cohen including e-mails and phone calls.
Novartis on Friday disputed a report from Democratic U.S. senators that concluded the Swiss drugmaker misled the public about its $1.2 million contract with a former attorney for President Donald Trump. "We disagree with the report's conclusion that we issued a misleading public statement regarding the extent of our engagement with (Michael) Cohen," Novartis said of the report compiled by staff of Sen. Ron Wyden, from Oregon, and other minority party lawmakers. Among other things, the document contends that former Novartis Chief Executive Joe Jimenez had "multiple additional communications" with Cohen including e-mails and phone calls.
With Johnson & Johnson (JNJ) and Novartis AG (NVS) scheduled to report on Jul 17 and Jul 18, respectively, this may be a good time to figure out which of these is a better stock.
Michael Cohen, longtime lawyer to President Donald Trump, not only took money from companies looking for insight into the new administration but also pressed one of his clients to take up an investment opportunity to benefit Russian-linked Columbus Nova, another client. The disclosure, contained in a report produced by an investigation led by Senate Democrats, shows that Cohen promoted the investment in a company backed by Columbus Nova to Novartis AG. Novartis in turn offered a list of ideas on how to lower drug prices and sent it to Cohen, who promised to pass it along to the administration, according to the report.
Michael Cohen, longtime lawyer to President Donald Trump, not only took money from companies looking for insight into the new administration but pressed one of his clients to take up an investment opportunity to benefit Russian-linked Columbus Nova, another client. The disclosure, contained in a report produced by an investigation led by Senate Democrats, shows that Cohen promoted the investment in a company backed by Columbus Nova to Novartis AG. Novartis in turn offered a list of ideas on how to lower drug prices and sent it to Cohen, who promised to pass it along to the administration, according to the report.
Novartis AG is the latest drug giant to end antibacterial and antiviral research, joining the likes of AstraZeneca Plc, Sanofi, Allergan Plc and Medicines Co. GlaxoSmithKline Plc has put some antibiotics assets under review. Sales of new antibiotics are too low for big pharma to recoup its investments, and public measures to encourage more activity aren’t moving the needle. “We’re at a point now where resistance is moving a lot faster than our ability to provide new antibiotics.
The Swiss pharmaceutical group’s initial contract with Mr Cohen explicitly asked for “access to key policymakers”, according to the report, but the wording was later removed. after the 2016 presidential election, said in May that it had one meeting with Mr Trump’s then longtime personal attorney in March 2017 but decided not to engage further. On Friday, Senate Democrats said documents showed Mr Cohen had at least four phone calls and multiple email exchanges with Joseph Jimenez, then chief executive of Novartis, after the initial meeting.
Gene therapy continues to be in focus with the recent spate of deals and acquisitions. We highlight three stocks, which have promising candidates in their pipeline.
- Galaxies of Hope offers a unique digital experience that engages users through the art of visual storytelling to connect with others to understand NET cancer - Using real-life stories and voices of patients, ...
Novartis AG will shut down its antibacterial and antiviral research operations in the San Francisco Bay area and cut about 140 jobs, joining other pharmaceutical giants that have pulled out of the field in recent years. The exit is part of the Swiss drugmaker’s move to narrow its R&D focus under its new chief executive officer. Vas Narasimhan, who took over in February, said in an interview last month that his priorities include gene-therapy programs for cancer treatment, neuroscience and ophthalmology.
Novartis moved the unit from the Boston area seven years ago and wooed a key researcher from UCSF; now it is shutting down that antibacterial and antiviral work.
Technologies like CRISPR that alter a patient’s DNA to treat disease are transforming medicine, but a little-known roadblock could slow the revolution. To insert new, potentially life-saving DNA inside the body’s cells, doctors typically rely on bespoke viruses manufactured in a few specialty labs that are frequently backlogged amid surging demand. “It’s not the sexy part of the process, but it’s really important to get right,’’ said Fred Ramsdell, vice president of research at the Parker Institute for Cancer Immunotherapy in San Francisco.
An emerging wave of blockbuster drugs will accelerate European pharmaceutical companies' revenue growth into 2019, says Moody's Investors Service in a report published today. The rating agency's report is an update to the markets and does not constitute a rating action.
A handful of the world’s biggest drugmakers are canceling or reducing planned price increases in the U.S., following a new California drug pricing transparency law and continued political pressure over pharmaceutical costs. The California law, which began to take effect earlier this year, requires drugmakers to give insurers, governments and drug purchasers advance notice of large price increases, as a way of publicly pressuring pharmaceutical companies to keep prices down. In the past three weeks, Novartis AG, Gilead Sciences Inc., Roche Holding AG and Novo Nordisk A/S sent notices to California health plans rescinding or reducing previously announced price hikes on at least 10 drugs.
Incyte Corporation (INCY) reported revenues of $382.3 million during the first quarter, a marginal decline in YoY (year-over-year) revenues compared to $384.1 million during the first quarter of 2017. These revenues include the product revenues from sales of Jakafi and Iclusig, royalty revenues from Jakavi and Olumiant, and milestone and contract revenues. The chart below compares the revenues for Incyte since the first quarter of 2017.
China has vowed to speed up cuts to the cost of cancer drugs in a move that threatens to dent revenues in the country for multinationals such as Eli Lilly, Roche and Novartis. Officials will “accelerate price cuts” for cancer treatments, the Communist party-run People’s Daily reported over the weekend.
In Q2 2018, analysts expect Novartis’s revenue to fall 7.6% YoY (year-over-year) to $13.2 billion from $12.2 billion. They expect Novartis to see EPS of $1.32, and its net income margin to decrease YoY to 22.8% from 23.3%, mainly due to higher SG&A (selling, general, and administrative) and R&D (research and development) expenses.
Alcon, Novartis’s (NVS) eyecare business, includes surgical and vision care products. In Q1 2018, Alcon revenue grew 12% YoY (year-over-year) to ~$1.8 billion from ~$1.6 billion, driven by 7% operating revenue growth and boosted by 5% due to foreign exchange. The chart below shows Alcon’s revenue since Q1 2017.
Our next guest recommends investors continue to "buy the dips", as positive fundamentals should help steady markets and keep the bull market running longer. Edward Jones Kate Warn joins us now.