![]() Since then, Novartis has expanded its nuclear theranostic portfolio to include PSMA-targeted diagnostics and therapeutics. SAINT-GENIS-POUILLY, France, J- Advanced Accelerator Applications S.A. approval of Netspot, a radioactive diagnostic agent used to detect NETs. This outcome was met with great business interest, and Novartis acquired Advanced Accelerator Applications, the licensee of Lutathera, for 3.9 billion in the fall of 2017. In announcing the deal, Novartis touted Advanced Accelerator's capabilities in developing and manufacturing radiopharmaceuticals, which contain radioisotopes to destroy unhealthy cells or diagnose cancers. ![]() The EU approved Lutathera for treatment of metastatic, somatostatin receptor positive gastroenteropancreatic neuroendocrine tumors based on a Phase 3 study that showed a 79% reduction in risk of disease progression or death compared to control therapy. Lutathera ( lutetium oxodotreotide) complements Novartis' existing interest in neuroendocrine tumors (NETs), led by its marketed product Afinitor (everolimus). "W e have said publicly that our M&A strategy is to do bolt-on acquisitions, smaller acquisitions that would supplement the pipelines of each of our important divisions, and that hasn't changed," outgoing company Joseph Jimenez had reiterated on a Oct. Novartis' deal for Advanced Accelerator fits neatly with the company's recent approach to business development, and helps to further build out its oncology portfolio. Investor attention has, in turn, focused on new potential growth drivers, such as the recently approved CDK 4/6 inhibitor Kisqali (ribociclib) and the CAR-T therapy Kymirah (tisagenlecleucel). Oncology is Novartis' largest pharmaceutical business division, bringing in just over $3 billion in sales during the third quarter.īut generic competition to its once top-selling cancer drug Gleevec (imatinib) has weighed on the unit.
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