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Novartis CEO Sees Big Potential In Biosimilars

ZURICH -(Dow Jones)- Novartis AG (NVS) Chief Executive Joe Jimenez said Tuesday he sees potential in the market for biosimilars, cheaper versions of expensive and complex medicines made from biological matter. "This is a market that is relatively small today, but we expect that by 2020 this could be a 15 to 20 billion dollars segment of the generics business," Jimenez told analysts in a call. "Novartis is uniquely positioned in biosimilars because we have the scientific and medical expertise of a pharmaceutical company and the commercial expertise of a generics company," he said. Novartis has its own generics unit, Sandoz. Biosimilars are imitations of biotech drugs, ones that are basically interchangeable with a previously approved biologic but because of the inherent complexity of the products cannot be termed identical. -By Marta Falconi, Dow Jones Newswires; +41 43 443 8043; marta.falconi@dowjones.com

Stock News for Novartis (NVS)
DateTimeHeadline
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11/06/201407:57:33Biosimilars: The Good, the Bad and the Unknown -- Barron's
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10/26/201422:31:12CSL to Buy Novartis Influenza-Vaccine Unit
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10/23/201407:33:40Novartis 3Q 2014 -- Forecast
10/10/201404:08:25Oxford Biomedica Inks New Collaboration Pact with Novartis
10/03/201411:32:27EU Approves Acquisition of Novartis Animal Health Division by...
09/22/201412:43:39Germany's Merck to Buy Sigma-Aldrich for $17 Billion--2nd Update
09/01/201412:45:13EUROPE MARKETS: Novartis Climbs, Iliad Drops: European Movers
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09/01/201408:27:44Ruble Hits New Record Low Against Dollar

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