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February 12, 2016 5:27 AM ET

Pharmaceuticals

Company Overview of Novartis Pharmaceuticals Corporation

Company Overview

Novartis Pharmaceuticals Corporation researches, develops, manufactures, and markets medicines and treatments for helping patients and improving patient care. It offers prescription drugs to treat various diseases and conditions, including cancer, cardiovascular, central nervous system, endocrine, inflammatory, ophthalmic, infectious, neurological, organ transplantation, psychiatric, respiratory, skin, and infectious diseases and conditions. The company also provides patient assistance programs to manage diseases and conditions. Novartis Pharmaceuticals Corporation was formerly known as Sandoz Pharmaceuticals Corporation and changed its name to Novartis Pharmaceuticals Corporation in March 1...

One Health Plaza

East Hanover, NJ 07936-1080

United States

Founded in 1968

Phone:

973-781-8300

Fax:

973-781-8265

Key Executives for Novartis Pharmaceuticals Corporation

President, US Country Head and President of Novartis Corporation
Chief Financial and Administrative Officer and Vice President
Chief Compliance Officer, Vice President and Us Country Head of Ethics & Compliance
Vice President, General Counsel and US Country Head of Legal
Vice President of Communications and US Country Head of Communications
Compensation as of Fiscal Year 2015.

Novartis Pharmaceuticals Corporation Key Developments

COTA Inc. and Novartis Pharmaceuticals Corporation Enter Collaboration to Enhance Outcomes and Drive Cancer Care

COTA Inc. and Novartis Pharmaceuticals Corporation have entered into a collaboration with a goal to improve patient outcomes, enhance the efficiency of cancer care and accelerate discovery, and development of new treatments. The collaboration focuses on the use of real-world data to study clinical and economic outcomes across a number of cancer types. COTA has developed a breakthrough, patent-pending system for classifying cancer patients, COTA Nodal Addresses, which enables a sensitive and precise detection of variance in chosen treatments, clinical outcomes and costs.

Radius Health, Inc. Announces Clinical Collaboration with Novartis Pharmaceuticals to Evaluate RAD1901 Combination Regimens in Advanced Breast Cancer

Radius Health, Inc. announced that it has entered into a worldwide clinical collaboration with Novartis Pharmaceuticals to evaluate the safety and efficacy of combining investigational agent RAD1901, a novel oral selective estrogen receptor degrader (SERD), with investigational agent LEE011 (ribociclib), a cyclin-dependent kinase (CDK) 4/6 inhibitor. Preclinical studies of RAD1901 have shown consistent and robust single agent anti-tumor activity in multiple wild type and ESR1-mutant breast cancer models and tumor regression when combined with targeted agents such as CDK 4/6 inhibitors in pre-clinical models. The parties also intend to conduct pre-clinical studies to evaluate the effects of RAD1901 in combination with BYL719 (alpelisib), an investigational phosphoinositide 3-kinase (PI3K) inhibitor, with the goal of initiating future clinical trials. Under the agreement, Radius and Novartis will each contribute resources and supply compound material necessary for the studies to be conducted under the collaboration and will share third party out-of-pocket research and development expenses. The agreement is non-exclusive and each party will solely own all rights to any invention or discovery solely related to its respective product and/or compound. The parties will jointly own all data and inventions related to the combination use of investigational drug RAD1901 with investigational drugs LEE011, BYL719 or another compound arising under the collaboration. LEE011 was developed by the Novartis Institutes for BioMedical Research in collaboration with Astex Pharmaceuticals.

Novartis Pharmaceuticals Corporation Announces Settlement Agreement

Attorney General Chris Koster announced that the state of Missouri reached an agreement in principle to settle kickback claims against Novartis Pharmaceuticals Corporation. The settlement will resolve allegations that Novartis provided kickbacks to certain specialty pharmacies in exchange for recommending the drug Exjade to Medicaid and Medicare patients. Under the settlement, Novartis has agreed to pay $390 million to the United States and more than 40 states. Missouri will receive approximately $1.7 million under the settlement. In addition, two of the specialty pharmacies named as defendants in the case, BioScrip Inc. and Accredo Health Group Inc., have already agreed to pay $15 million and $60 million, respectively, to resolve claims that they accepted kickbacks from Novartis to promote Exjade. Missouris share of those settlements is approximately $54,000 and $289,000, respectively. The settlement resolves allegations that between 2007 and 2012 Novartis paid kickbacks to three specialty pharmacies BioScrip, Accredo, and US Bioservices. The pharmacies were selected by Novartis to be part of a closed distribution network through which most Exjade prescriptions in the United States were filled. Novartis created the distribution network, which it called EPASS, and therefore had significant control over how many patient referrals each pharmacy received. The pharmacies shipped most Exjade prescriptions to patients by mail and were supposed to call patients to set up the shipments and obtain consent for refills. The pharmacies billed themselves as specialty pharmacies that could arrange for these shipments and run educational programs for patients. In court filings, the government alleged that Novartis paid kickbacks to the pharmacies to corrupt the pharmacies' interactions with patients by inducing the pharmacies to exaggerate the dangers of not taking Exjade, emphasize Exjade's benefits, and downplay the severity of Exjade's side effects. The scheme began after Exjade failed to meet Novartis' internal sales goals and Novartis discovered that refill rates for Exjade were lower than anticipated. In the course of the scheme, Novartis pressured the specialty pharmacies by threatening to exclude them from the EPASS network or to reduce the number of patient referrals they received from EPASS. In addition, Novartis set up a contest in which the pharmacy that kept patients on Exjade the longest would receive additional patient referrals from EPASS. The contest winner was determined by scorecards created by Novartis that were sent to each of the three pharmacies. Novartis also paid rebates to the specialty pharmacies, which made each patient referral valuable and incentivized the specialty pharmacies to encourage patients to stay on Exjade. The contest and the rebates were not disclosed to Exjade patients or their caregivers.

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