Novartis bond certificates
NOVARTIS AG ADS
+7.03%
closure:0
opening:89.03
High:89.75
low:88.91
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They rose 7% after the Swiss drug company reported positive top-line results from a trial of breast cancer drug Kisqali. Novartis said that endocrine therapy plus Kiskali “significantly reduced the risk of disease recurrence” compared to standard endocrine therapy alone.
In August, the company announced that it is doing a spin-off for Sandoz and will issue it on the Swiss stock exchange, a move it believes will help it “turn Sandoz into the number 1 European generic company”. The company claims that “for both the innovative drugs and the Sandoz business, the spin-off will allow for improved focus and the ability to pursue independent growth strategies of both entities,” the Swiss pharmaceutical group said in a statement.
Sandoz is actually a competing company of Teva
Teva (US)
+1.54%
closure:0
opening:8.63
High:8.65
low:8.55
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in the generic market. As soon as it is split or sold, it will receive a much greater management focus, since until today it was not at the core of Novartis’ business – Sandoz, Mylan (which became Viatris) and Israel’s Teva are the largest players in the world in the field of generic drugs, and due to problems related to antitrust it is difficult to see the one buys the other This means that Teva suddenly has another competitor – which is also essential – and it is possible that it will become stronger. Beyond that, there will be another interesting generic drug body for investment.
Last June, Novartis announced that it would cut more than 7% of its workforce, meaning that approximately 8,000 of the company’s 108,000 employees would lose their jobs. The biggest cut will take place at the company’s headquarters in Switzerland, where about 1,400 employees will be laid off. The move was made a few months after the inauguration of the new CEO Vas Narasimhan, who has developed a significant organization in the company and is trying to simplify its organizational structure. The strategic plan that was published back in April also includes the unification of the pharmacology division with the oncology division. The purpose of the plan is to cut expenses to the extent of about a billion dollars per year according to the company.
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