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Last $94.55 USD
Change Today -0.81 / -0.85%
Volume 2.3M
NVS On Other Exchanges
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As of 4:15 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

novartis ag-sponsored adr (NVS) Key Developments

Amgen Enters into Neuroscience Collaboration with Novartis for Alzheimer's Disease and Migraine Programs

Amgen announced neuroscience collaboration with Novartis in the areas of Alzheimer's disease and migraine. The collaboration accelerates Amgen's potential entry into Alzheimer's disease by teaming up with Novartis on a differentiated and genetically validated Alzheimer's disease program directed at genetically predisposed individuals at risk of developing Alzheimer's disease. The collaboration also enables Amgen to focus on the commercialization of its migraine programs in the U.S., Canada and Japan, while leveraging Novartis' strong commercial capabilities in neuroscience throughout Europe and other markets worldwide. The agreement combines each company's BACE (beta-site APP-cleaving enzyme-1) programs targeting Alzheimer's disease into a global co-commercialization and co-development arrangement. Novartis' Phase 1/2a BACE inhibitor (CNP520) will be the lead molecule and each company's pre-clinical BACE inhibitor programs will be potential follow-ons. Amgen will make upfront and milestone payments, and will be responsible for disproportional research and development (R&D) costs for an agreed-upon period followed by a 50/50 cost and profit share arrangement. CNP520 is planned to be included in a pioneering prevention study, in collaboration with the Banner Alzheimer's Institute. Amgen was the first company to clone the BACE gene and subsequent genetic validation of the BACE target has been confirmed by Amgen subsidiary deCODE Genetics. As part of the collaboration, Novartis receives global co-development rights and commercial rights outside of the U.S., Canada and Japan to the investigative molecules in Amgen's migraine portfolio program. This includes AMG 334 in Phase 3 and AMG 301 in Phase 1, as well as an option to commercialize an additional early-stage Amgen molecule in these territories. In exchange for territory rights, Novartis will fund disproportional amounts of global R&D expenses for an agreed-upon period on the migraine programs and pay Amgen double-digit royalties on sales.

The US Food and Drug Administration Approves Expanded Use of Novartis's Promacta for ITP in Children Aged One Year and Above

The US Food and Drug Administration (FDA) has expanded the use of Novartis's Promacta (eltrombopag) to children aged one year and above with chronic immune thrombocytopenia (ITP) who have had an insufficient response to corticosteroids, immunoglobulins or splenectomy. The company notes that the updated label involved a new oral suspension formulation for the drug, in particular intended for small children who may have difficulty swallowing tablets. The decision was based on data from Phase II PETIT and Phase III PETIT2 studies evaluating Promacta in paediatric patients, between the ages of one and 17 years, with previously treated chronic ITP.

Teva Looking To acquire Sandoz

Teva Pharmaceutical Industries Limited (NYSE:TEVA) is considered acquiring Sandoz International GmbH from Novartis AG (SWX:NOVN).

Novartis AG Reports Unaudited Consolidated Earnings Results for the Second Quarter and First Half Ended June 30, 2015; Reiterates Earnings Guidance for the Full Year 2015

Novartis AG reported unaudited consolidated earnings results for the second quarter and first half ended June 30, 2015. For the quarter, the company's net sales from continuing operations were $12,694 million compared with $13,411 million a year ago. Operating income from continuing operations was $2,281 million compared with $3,184 million a year ago. This was mainly due to the amortization of the new oncology assets as well as a commercial settlement gain related to intellectual property in the prior-year period, partly offset by strong operating performance. Income before taxes from continuing operations was $2,156 million compared with $3,147 million a year ago. Net income from continuing operations was $1,856 million or $0.76 per diluted share compared with $2,723 million or $1.09 per diluted share a year ago. Net income attributable to shareholders of the company was $1,836 million or $0.75 per diluted share compared with $2,555 million or $1.03 per diluted share a year ago. Total cash flows from operating activities were $2,910 million compared with $3,341 million a year ago. Purchase of property, plant & equipment was $566 million compared with $644 million a year ago. Purchase of intangible, financial and other non-current assets was $476 million compared with $318 million a year ago. Core operating income from continuing operations was $3,593 million compared with $3,859 million a year ago. Core net income from continuing operations was $3,074 million or $1.27 per share compared with $3,335 million or $1.36 per share a year ago. This was due to the lower number of average outstanding shares. Core net income attributable to shareholders of the company was $3,013 million or $1.25 per share compared with $3,253 million or $1.34 per share a year ago. As on June 30, 2015, the company's net debt was $17,399 million. For the six months, the company's net sales from continuing operations were $24,655 million compared with $26,243 million a year ago. Operating income from continuing operations was $5,066 million compared with $5,999 million a year ago. This was mainly due to the amortization of the new oncology assets as well as a commercial settlement gain related to intellectual property in the prior-year period, mostly offset by strong operating performance. Income before taxes from continuing operations was $4,834 million compared with $5,984 million a year ago. Net income from continuing operations was $4,162 million or $1.70 per diluted share compared with $5,177 million or $2.07 per diluted share a year ago. Net income attributable to shareholders of the company was $14,841 million or $6.06 per diluted share compared with $5,496 million or $2.22 per diluted share a year ago. Total cash flows from operating activities were $4,614 million compared with $4,681 million a year ago. Purchase of property, plant & equipment was $1,035 million compared with $1,126 million a year ago. Purchase of intangible, financial and other non-current assets was $722 million compared with $444 million a year ago. Core operating income from continuing operations was $7,244 million compared with $7,659 million a year ago. Core net income from continuing operations was $6,273 million or $2.60 per share compared with $6,668 million or $2.71 per share a year ago. This was due to the lower number of average outstanding shares. Core net income attributable to shareholders of the company was $6,129 million or $2.54 per share compared with $6,438 million or $2.64 per share a year ago. Despite the weaker second-quarter performance, the company reiterated its full-year 2015 guidance. Net sales are still expected to grow in the mid-single digit percentage range at constant exchange rates in the full 2015. Core operating profit is projected to grow ahead of sales at a high-single digit percentage rate at constant exchange rates.

Novartis AG, Q2 2015 Earnings Call, Jul 21, 2015

Novartis AG, Q2 2015 Earnings Call, Jul 21, 2015

 

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TEV/Sales 4.5x
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