Brought to you by Investec Switzerland. Novartis AG said profit may fall this year as the Swiss drugmaker increases spending on the heart medicine Entresto and faces declining sales of its best-selling cancer treatment Gleevec. Core operating income will either be about the same as 2015 or decline by a percentage in the low single […]
Novartis says investigating Turkey bribery allegations: Reuters
Brought to you by Investec Switzerland. Reuters reports that an investigation is taking place after an anonymous whistle-blower accused Novartis of paying bribes through a consulting firm to secure business advantages in Turkey worth around $85 million, citing an email seen by a reporter. The benefits are reported to include getting medicines added to lists […]
Pharma weighs on Swiss stock market
Brought to you by Investec Switzerland. The SMI is set to end the week modestly lower along with global stocks after earnings reports from pharmaceuticals heavyweights Roche and Novartis fell short of analyst’s estimates. Global markets experienced another volatile week amid ongoing speculation over whether central banks will come to the rescue of turbulent financial […]
Days of unfettered drug price increases over, Novartis head says.
Brought to you by Investec Switzerland. The soaring cost of some medicines has sparked a controversy that’s hampered drugmakers’ ability to raise prices in their biggest and most profitable market. Novartis AG Chief Executive Officer Joe Jimenez figures the golden days of unfettered price increases are over in the U.S. “Those days are over,” Jimenez […]