June 26, 2003 |
Novartis, Europe's third-largest drug maker, agreed to help Genentech Inc. develop and market its experimental eye treatment Lucentis, which treats the main cause of blindness in people over 50. The pair will split Lucentis' development costs, and Novartis will sell it outside the U.S., Canada and Mexico. Genentech will get undisclosed research payments and royalties on sales, Switzerland-based Novartis said. South San Francisco-based Genentech's shares rose 5 cents to $71.70 on the NYSE.
March 1, 2000 |
Pasadena-based Jacobs Engineering Group Inc. said Tuesday that it signed an exclusive contract to oversee all future engineering and construction projects for global drug giant Novartis. Jacobs will be the only company to provide engineering, architecture and other related services for Novartis in the United States, Europe and India. Neither financial terms nor length of the contract was disclosed.
December 15, 2006 |
Nestle, the world's biggest food and drink company, will buy the medical nutrition unit of pharmaceutical company Novartis for $2.5 billion, the companies said Thursday. Nestle will acquire such brands as Boost and Resource nutritional supplements, and Optifast dieting products. The deal still needs regulatory approval but is expected to be completed during the second half of 2007, Nestle said.
May 28, 1999 |
Novartis, the world's second-largest drug maker, was ordered by the Federal Trade Commission on Thursday to run advertisements correcting earlier statements that touted its Doan's back-pain relievers as superior to other medicines. The ruling marks only the second time in 25 years the FTC has ordered corrective advertising in a contested case. The agency said the step was necessary to restore an even playing field in the multibillion-dollar consumer market for over-the-counter pain relievers.
December 18, 1999 |
Genentech Inc. and Novartis' allergy drug anti-IgE appeared effective during company tests in reducing asthma flare-ups, Genentech said, sending its shares up 10%. South San Francisco-based Genentech and Novartis expect to apply for regulatory approval of the drug, also called E-25, in mid-2000. Analysts said the drug has blockbuster potential because of the number of people who suffer from allergy and asthma.
July 15, 2005 |
Novartis said profit rose 9.2%, beating analyst estimates, as the company's heart medicine Diovan and cancer drug Gleevec helped it win market share. Net income rose to $1.65 billion, or 70 cents a share, from $1.51 billion, or 63 cents, a year earlier, Basel, Switzerland-based Novartis said. Analysts expected profit of $1.57 billion, according to a survey by Bloomberg. Revenue rose 12% to $7.8 billion. Novartis increased its share of the world pharmaceutical market to 4.6% from 4.