Europe Warms to New Novartis Heart Drug Amid Glacial U.S. Sales
- Single-payer systems recognize hospital cost savings, CEO says
- Novartis still expects $5 billion in peak Entresto sales
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Novartis AG’s new heart medicine is getting a warmer reception in Europe than the U.S., defying conventional market wisdom and highlighting weaknesses in the world’s largest health-care market.
The drug, Entresto, is struggling to generate the sales investors expected after its introduction in July. Analysts have cut their 2020 estimates for Entresto by 35 percent in the last three months amid weak demand for the drug in the U.S., where physicians are reluctant to prescribe the drug as insurance companies resist broad coverage.