That big drug swap between Novartis and GlaxoSmithKline is once again proving to be a boon to Array BioPharma. Array saw its shares spike more than 40% on Friday after the company said that Novartis is handing back rights to the Phase III BRAF inhibitor encorafenib, not long after it also scooped up the rights to binimetinib.
Novartis has long pinned its hopes on meningitis B shot Bexsero to revitalize its lagging vaccines unit. Now, the company is celebrating the product's FDA approval, even as it prepares to hand off the jab to GlaxoSmithKline in a blockbuster asset swap.
With the effectiveness of this year's influenza vaccines so low as to have made most of this year's vaccinations pointless, the industry is searching for avenues to abbreviate the 6-month development and manufacturing process to deal better with the kinds of virus mutations that came into play this year.
Heading into this year's flu season, vaccinemakers were hoping to follow up the top-line success they scored last year with quadrivalent rollouts. But with this year's vaccines registering a paltry 23% effectiveness rate this season thanks to a mutated strain, it might be time to make some changes.
Novartis scored FDA and European approvals this week for its blockbuster contender Cosentyx. But rival companies are developing their own therapies, and existing drugs challenge its market share.
When it comes to currency, it's not been a good couple of weeks for multinational drugmakers. Switzerland's move to decouple the franc from the euro last week raised questions about the effects on Basel-based Roche and Novartis. And now, Johnson & Johnson's fourth-quarter results and 2015 forecast are triggering more foreign exchange worries.
Novartis picked up FDA and European approvals to sell its secukinumab as a treatment for psoriasis, the first steps in the company's plot to build a global anti-inflammatory contender and outpace its rivals.
When Novartis announced plans to hand off its consumer health operations to a joint venture with GlaxoSmithKline, the companies said they figured they could save a boatload of money in "synergies." It looks like a small part of that will come from closing a Novartis plant in Puerto Rico that makes consumer and veterinary products, shedding 270 jobs in the process.
The deal gives Novartis access to the most active digital health VC team--Rock Health reports Qualcomm Ventures has struck 21 deals since 2011--and further strengthens the ties between the two companies.
Novartis, in the midst of a long-running effort to make clinical trials more efficient, has recruited Qualcomm to help it gather and store patient data from medical devices.