|Day's Range||1,065.50 - 1,085.00|
|52 Week Range||1,064.00 - 1,750.00|
|PE Ratio (TTM)||18.98|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Novartis does not need a big acquisition to kick-start growth, Chief Executive Joe Jimenez told investors on Wednesday, playing down suggestions he could use proceeds from a slew of asset sales for a significant takeover. Amid speculation Novartis might use proceeds to buy AstraZeneca or Bristol-Myers Squibb to fill holes in its cancer drug portfolio, Jimenez said he remained focused on smaller purchases of up to $5 billion to bolster his pipeline. "Obviously, there's been a lot of speculation because that would be a lot of capital," Jimenez said at an event at Novartis's research campus in Boston.
Indian drugmaker Lupin Ltd expects to launch over 30 products in the United States this year, but warned revenue growth would remain muted due to growing pricing pressure and competition in the world's largest healthcare market. "We've talked about medium single digits of price erosion in the past and I think we are now (seeing) high single digits," Managing Director Nilesh Gupta told Reuters after Lupin reported a quarterly profit that halved from a year earlier. The country's third-largest drugmaker has been working on building a pipeline of high-value complex generic drugs in the United States to offset growing competition in plain generics.
India's drug pricing regulator has demanded explanations from 65 domestic and global drugmakers for selling new forms of essential diabetes and antibiotic drugs without its approval. The move could bring penalties for the drugmakers, among them Abbott Laboratories, Sanofi, Novartis and Indian firms such as Sun Pharmaceutical Industries and Lupin, the National Pharmaceutical Pricing Authority (NPPA) said on its website.