The CEO of Novartis stated Wednesday that the Swiss pharmaceutical big doesn’t plan to enter into the “frenzy” of weight reduction medicine, preferring as an alternative to give attention to areas the place it could construct a “distinctive place.”
Chatting with CNBC, Vas Narasimhan stated that the corporate was researching therapies that take care of the secondary results of weight reduction, however that it doesn’t plan to compete instantly with dominant weight problems drugmakers Novo Nordisk and Eli Lilly.
“I believe simply to observe on the frenzy now wouldn’t be the correct transfer for Novartis,” he advised CNBC’s “Squawk Field Europe.”
“With weight problems proper now, we’ve got two very entrenched massive gamers, and I believe for future entrants it’s a must to discover one thing new, some kind of unique approach that both reduces the nausea and the vomiting or offers sufferers the flexibility to lose their weight and retain their muscle,” he stated, highlighting current work in such areas inside Novartis’ analysis labs.
Weight problems drug competitors has been ramping up over current months, with main gamers resembling Roche and Pfizer getting into the market, which is estimated to be value as much as $200 billion throughout the coming decade.
Nonetheless, Narasimhan stated his firm was focusing on areas “we all know we are able to win.” These embody therapies for ailments resembling Alzheimer’s, Huntington’s and Parkinson’s, in addition to varied most cancers therapies.
Particularly, he stated he noticed a sizeable market alternative inside its rising radioligand therapies (RLTs), a most cancers therapy which targets cancerous cells. To date, the corporate has made two acquisitions and launched two medicines throughout the area.
“That is an space the place we predict we might construct a $20 billion-plus enterprise over time and hopefully construct a singular place somewhat than chasing the opposite markets,” he stated.
“These are locations the place I really feel like we’ve got the correct to win,” he added.
His feedback come after the corporate obtained approval Tuesday from the U.S. Meals and Drug Administration for its Kisqali metastatic breast most cancers drug for use to deal with sufferers with earlier levels of the illness.
Novartis shares had been down 0.3% by 9:30 a.m. London time Wednesday, after a short pop on the session open.
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