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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
07/21/201612:50:00Amgen and Allergan Study Finds Biosimilar Comparable to Herceptin
07/20/201603:05:00Business Watch -- WSJ
07/19/201619:00:00ADRs End Lower; Ericsson Falls
07/19/201604:36:00Novartis Warns on Profit as It Boosts Investment in Heart-Failure...
07/19/201603:40:00Novartis Warns on Profit as Entresto Investment Weighs
07/19/201602:25:00Novartis Warns Profit Could Fall This Year Due to Increased Spending...
07/15/201611:01:00Novartis AG 2Q 2016 - Forecast
07/12/201619:20:00Amgen Biosimilar Gets Thumbs-Up From FDA Panel
06/06/201605:11:00Mereo BioPharma to Trade on AIM -- Update
05/23/201616:40:00Samsung Targets U.S. Drug Market With Remicade Knockoff
05/20/201615:20:00Colombia Threatens to Override Novartis's Patent on Gleevec
05/20/201615:18:00Colombia Threatens to Override Novartis's Patent on Gleevec
05/18/201603:03:00Novartis Says Drug-Unit Chief To Leave Firm -- WSJ
05/17/201618:43:00ADRs End Lower; NQ Mobile Rises
05/17/201615:11:00Novartis to Split Pharmaceuticals Division into Two -- Update
05/17/201614:10:00Novartis to Split Drug Division
05/17/201613:27:00Novartis to Split Pharmaceuticals Division Into Two
05/05/201620:58:00Upsized IPO of Biotech Company Intellia Prices at Top of Range
05/03/201608:30:00Shannon Klinger to Replace Eric Cornut as Novartis's Ethics Officer
05/03/201608:19:00Shannon Klinger to Replace Eric Cornut as Novartis's Ethics Officer

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