April 10, 2001 |
Novartis Corp. agreed Monday to modify questionable advertising claims for its prescription motion-sickness drug, Transderm Scop. But the Swiss pharmaceutical giant said it won't remove the claims from its package insert, which the government approved when the drug was introduced more than 20 years ago. Advertising watchdogs said similarly confusing situations are likely to arise as prescription drug advertising becomes more prevalent. Pharmaceutical firms spent $1.
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.
March 31, 2007 |
A widely prescribed drug for severe constipation is being taken off the market after it was linked to a higher risk of heart attacks and strokes, federal regulators said Friday. Doctors said the voluntary withdrawal of Zelnorm by its manufacturer would leave few options for patients who suffer from a type of irritable bowel syndrome that affects about 12 million Americans, mostly women. "This is really a sort of one-of-a-kind drug," said Dr.
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.