46.07 -0.15 (-0.32%)
Pre-Market: 7:53AM EST
|Bid||46.03 x 2200|
|Ask||46.12 x 1100|
|Day's Range||45.94 - 46.42|
|52 Week Range||40.00 - 47.47|
|Beta (3Y Monthly)||0.48|
|PE Ratio (TTM)||23.82|
|Forward Dividend & Yield||1.74 (3.76%)|
|1y Target Est||52.00|
(Bloomberg Opinion) -- Novartis AG appears ready to put a premium on convenience.Bloomberg News reported early Tuesday that the Swiss pharmaceutical giant is conducting due diligence on Medicines Co., a New Jersey-based biotechnology company with a promising drug called inclisiran that can substantially lower so-called bad cholesterol with just two annual treatments. Its principal rivals, Amgen Inc.'s Repatha, and Sanofi and Regeneron Pharmaceutical Inc.’s Praluent, require biweekly or monthly injections. Buying Medicines Co. wouldn’t be a megadeal, but it won’t come cheap. The company’s share price had already more than tripled this year as it released promising data, and a 20% boost prompted by deal speculation Tuesday pushed its market value well above $5 billion. If the price gets too high or the unnamed others reportedly also interested in the company start a bidding war, Novartis should be ready to walk away. Despite its promise, inclisiran also has its potential limits, and its sales potential is still highly uncertain. Approval isn’t expected until next year.Inclisiran’s predecessors Repatha and Praluent launched with much fanfare in 2015, and the assumption was that they would take on blockbuster status. Insurers balked at the high price of the drugs and the potentially massive market of patients with high cholesterol who might want it, and threw up barriers to access. As a result, the medicines got off to a slow sales start and continue to struggle. Both companies hoped that large outcomes trials proving that the drugs could prevent events such as heart attacks and strokes would turn things around and boost sales. The benefit wasn’t as significant as some hoped, and major sales acceleration never arrived. After a series of big price cuts, the drugs now cost under $6,000, less than half their list price at launch. The two drugs are expected to combine for around $940 million in sales this year; analysts once expected the two to have surpassed that on their own by now. Inclirisan works in a different way and looks like a more effective drug, able to lower cholesterol at a similar rate without nearly as many jabs of the needle. That’s better for patients, and physicians are likely to prefer it because that could translate to fewer missed doses and potentially better overall results. Patients and physicians don't get to choose on their own, though: Price-conscious health plans, insurers, and pharmacy benefit managers are the real decision-makers.These groups are pretty comfortable limiting the use of more expensive next-generation cholesterol drugs to a relatively small population. That reality and the ever-decreasing price of Praluent and Repatha suggests that inclisiran may have trouble pricing at much of a premium. The drug’s convenience and impact may finally expand this market to a broader group of Americans, especially if its owner is willing to compromise on cost at launch or an outcomes trial due in a few years reveals a positive surprise. It’s entirely possible, however, that it ends up with just a corner of a market that never gets all that big. Under the stewardship of a big company like Novartis, which has managed to navigate a slow launch and resistant market pretty well for its own heart drug Entresto, inclirisan is likely to deliver at least respectable sales some day. The company should be cautious if the price gets to a point where respectable won’t be nearly enough. To contact the author of this story: Max Nisen at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Protalix (PLX) successfully completes the pre-BLA meeting and gets FDA acceptance for using accelerated approval pathway for the BLA submission of Fabry disease candidate, pegunigalsidase alfa.
Amarin (AMRN) gets favorable FDA Advisory Committee vote to expand the label of Vascepa capsules to reduce cardiovascular risk in patients with persistent elevated triglycerides.
Novo Nordisk (NVO) and Allergan (AGN) release Q3 results. FDA approves Sanofi's quadrivalent flu vaccine for older adults and Novartis' long-acting biosimilar version of Amgen's Neulasta.
Takeda Pharmaceutical Co's experimental dengue vaccine was highly effective at preventing the mosquito-borne disease in a late stage study, but it failed to protect against one type of the virus in people with no prior exposure to dengue. Takeda's vaccine was 80.2% effective at preventing dengue among children and teens in the year after they got the shot, according to results of a Phase III study published in the New England Journal of Medicine on Wednesday. Sanofi's Dengvaxia - the world's first dengue vaccine - had demonstrated 59.2% overall efficacy in the first year of follow-up based on combined results from two late-stage trials.
*Oncology: New data from investigational isatuximab pivotal study for the treatment of relapsed/refractory multiple myeloma *Rare Blood Disorders: New data spanning extensive portfolio demonstrates scientific ...
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 Nov. 4) Agile Therapeutics Inc (NASDAQ: AGRX )(follow-on rally ...
PARIS, Nov. 4, 2019 /PRNewswire/ -- The U.S. Food and Drug Administration (FDA) has approved a supplemental Biologics License Application for Fluzone® High-Dose Quadrivalent (Influenza Vaccine) for use in adults 65 years of age and older. Fluzone® High-Dose (Influenza Vaccine) was approved by the FDA in 2009 as a trivalent influenza vaccine, including two influenza A strains and one influenza B strain. Fluzone High-Dose Quadrivalent contains an additional influenza B strain.
Sanofi S.A. is shelling out $315 million to settle claims it bungled the launch of a multiple sclerosis drug developed by the Cambridge-based subsidiary Genzyme.
"We know that living with type 1 diabetes means dealing with highs and lows in blood sugar, which are worrying and present substantial challenges for young people," said Prof. Dr. Thomas Danne, Director of the Department of General Pediatrics and Endocrinology/Diabetology at the Children's Hospital On the Bult, Hannover Medical School, Germany. The trial, EDITION JUNIOR, is the first randomized, controlled trial comparing Toujeo vs Gla-100 in this group of patients.
Bayer Shows Strength Across Portfolio as Litigation Concerns Continue Bayer BAYRY reported third-quarter results largely in line with our projections. We continue to view the company as undervalued, with the market attributing too much concern to the ongoing glyphosate litigation.
Over the last three years, MilliporeSigma has boosted job applications and retention at its Danvers site, in part by introducing ESL classes.