Novartis hopes to solidify its early lead in the potential $ 10 billion market for a new type of cancer treatment called novel radioligand therapy after positive results in its trials.
Vasant NarasimhanNovartis CEO said that pharmaceutical companies have large manufacturing capacity and hospital relationships, they need to invest to adapt to provide treatment, and competitors replace the company. Domination said that it would lead to a “virtuous cycle” that felt difficult.
“We believe the market could reach more than $ 10 billion over the next decade,” he told the Financial Times. “When you see a cancer that it can deal with, you certainly have the opportunity to grow much, much bigger.”
First discovered by physicists at CERN, the European Organization for Nuclear Research, radioligand therapy irradiates tumors with targeted injections rather than blunt tools for radiation therapy. Novartis acquired the scientist company Advanced Accelerator Applications for $ 3.9 billion in 2018.
Narasimhan said the test results released last month were “quite remarkable.” In a phase 3 trial to treat prostate cancer, Novartis found a 38% reduction in the risk of death compared to standard treatment.
The company plans to submit treatments for regulatory approval in the US and EU in the second half of this year. We are expanding the trial to the initial treatment of prostate cancer and are considering its use for other cancers, including the lungs and brain.
However, treatment requires a complex infrastructure that requires just-in-time provision for radiation therapy and isolated patients while receiving it.
Narasimhan believes there could be tens of thousands to hundreds of thousands of prostate cancer patients and said he is encouraging the clinic to expand into the region.
“We think prostate cancer is the key to really enabling us to get a much wider interest,” he said.
Narasimhan is gaining more attention to Novartis’ innovative medicines. This includes kimria, a transformational but difficult to deliver, cancer treatment, and solgensuma, the world’s most expensive drug for the gene therapy for debilitating genetic disease spinal muscular atrophy.
The surge in blockbuster drug sales pushed Novartis above expectations for revenue and revenue in the second quarter. Entrest sales for heart failure increased 46% on a constant currency basis, while Cosentyx for treating symptoms such as arthritis and psoriasis increased 21%.
Swiss pharmaceutical companies posted net sales of $ 13 billion, up 14% year-on-year, above the consensus forecast of $ 12.5 billion. Core earnings per share was $ 1.66, above analysts’ average forecast of $ 1.52. Net profit was $ 2.9 billion.
Oncology drug revenues increased 7% on a constant currency basis as some healthcare systems began to approach pre-pandemic cancer diagnostic levels. Was confused By focusing on the treatment of Covid-19 patients.
Novartis reaffirmed its full-year 2021 guidance that net sales will grow from the low to mid-single digits and core operating income will increase to the mid-single digits. Coronavirus restrictions are expected to be relaxed in the second half of the year.
“Ultimately, I think the Minister of Health is increasingly aware of the fact that in many countries there are more cardiovascular deaths than Covid and cancer is closer to Covid death,” said Narasimhan. Stated.
But he warned that treatment rebounds could be reversed due to the “ups and downs of delta mutants” that are spurring increased hospitalizations in many countries.
Novartis aims to beat its $ 10 billion new cancer treatment market rivals
Source link Novartis aims to beat its $ 10 billion new cancer treatment market rivals