Novartis is taking decisive steps to focus on its growth areas, as evidenced by its decision to sell off some of its ophthalmology portfolio assets, as reported by Bloomberg on Tuesday. This move signals the company’s commitment to identifying and investing in the areas that provide the most potential for growth.
Novartis has begun the process of reaching out to potential buyers, both private equity and strategic, as it seeks to offload an undisclosed portion of its business, according to sources close to the matter. The news comes as the Swiss pharmaceutical giant seeks to further diversify its portfolio and expand its reach into new markets.
In an emailed response to BioSpace, a company spokesperson declined to comment when asked for their thoughts on the matter.
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In May 2019, Novartis acquired Xiidra from Takeda for an impressive $3.4 billion in upfront cash payments, plus an additional $1.9 billion in potential milestones. This was a strategic move for Novartis, giving them the rights to a promising new drug that could potentially revolutionize the treatment of dry eye disease.
Novartis saw a major boost in their sales in 2022 due to the success of their dry eye medication, Xiidra, which brought in an impressive $487 million.
Novartis’s eye care business is booming, thanks to the approval of Beovu (brolucizumab-dbll) for wet age-related macular degeneration (AMD) and diabetic macular edema. The drug generated an impressive $203 million in sales in 2022, proving to be an effective treatment for these common eye conditions.
Novartis, the Swiss pharmaceutical giant, made history in 2018 when it acquired Luxturna (voretigene neparvovec-rzyl) from Spark Therapeutics for a whopping $170 million. Luxturna is the world’s first gene therapy for biallelic RPE65 mutation-associated retinal dystrophy, an exciting breakthrough in medical technology that has the potential to make a huge positive impact on people’s lives.
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Novartis is constantly evaluating its offerings to ensure it is focused on investments that will drive the greatest growth. As a result, the company is always looking for new opportunities to maximize its value.
Novartis is adamant about keeping Lucentis (ranibizumab), its medicine for wet AMD, in its portfolio. This blockbuster drug has already generated over $1.8 billion in sales in 2022, and is set to keep the revenue pipeline flowing for Novartis. Licensed from Roche/Genentech, Lucentis is an essential component of Novartis’ strategy for success.
Novartis is looking to an expert advisor to assess the potential of their eye-care portfolio and the overall industry interest. With the expert’s insight, they hope to gain a better understanding of the potential of their eye-care assets.
Novartis, one of the world’s leading pharmaceutical companies, announced in November 2022 that it was restructuring its business, with plans to divest its eye and respiratory divisions and focus on its core therapeutic areas. This major shift is seen as a strategic move to strengthen and streamline the company’s offering and position it for future success.
In April 2022, Novartis kicked off a radical restructuring program, designed to streamline the company and better equip it for future success. This sweeping overhaul has included a global shake-up that is sure to affect the future of the company.
Novartis is embarking on a major restructuring effort, merging its oncological and pharmaceutical divisions into one Innovative Medicines business unit. This move will unfortunately result in 8,000 job cuts, representing a 7% reduction in the company’s global workforce. But the reorganization promises to save at least $1 billion by 2024.
Novartis is reshaping its organizational strategy to become more agile and competitive, with the goal of strengthening its research and development pipeline. According to a company spokesperson, this new structure is key to the company’s growth strategy and is expected to have a positive impact on its long-term success.
In October 2021, Novartis announced its plans to spin off Sandoz, its generics division, as part of a strategic realignment program. After further consideration, the company confirmed in July 2022 that the spinoff was indeed part of its roadmap. This move will have far-reaching implications for the pharmaceutical industry, and could open up new opportunities for Novartis to reach a wider market and expand its product lines.