Siemens Healthineers announced today that it completed the acquisition of Advanced Accelerator Applications Molecular Imaging from Novartis. The newly acquired unit is a European manufacturing and distribution network of diagnostic radiopharmaceuticals for positron emission tomography (PET) scans. According to a news release, it will be known as “Advanced Accelerator Applications, a Siemens Healthineers company.” Reports first…
Sanofi, Novartis among Time’s most sustainable companies
Pharma giants Sanofi and Novartis came in at No. 7 and 17, respectively, in Time magazine’s “Most Sustainable Companies of 2024” rankings. Overall, nearly 40 of the 500 companies on the list fell under the category of Chemicals, Drugs & Biotechnology. Other large pharma companies making it into the top half of the 500 included…
Novartis begins $256M Singapore expansion
Novartis announced last week that it broke ground on a biopharmaceutical manufacturing plant in Singapore. The company put forward a $256 million investment to begin the project, which will lead to the deployment of digital and automation solutions to enhance manufacturing productivity, improve operational efficiency, and upskill the workforce. Novartis said this site will focus…
Novartis opens new radioligand therapy manufacturing facility in Indianapolis
Novartis today announced the expansion of its radioligand therapy (RLT) manufacturing capabilities with a new facility in Indianapolis. The Basil, Switzerland–based pharma giant said it has received FDA approval for commercial manufacturing in Indianapolis of its RLT therapy Pluvicto (lutetium Lu 177 vipivotide tetraxetan) to treat advanced metastatic prostate cancer. The new 70,000-square foot facility…
Novartis’s Sandoz spin-off and Sanofi’s portfolio slim-down reflect pharma push toward specialization
The pharmaceutical trend toward increasing concentration appears to be gaining momentum. On September 15, Novartis shareholders approved the company’s proposed spinoff of Sandoz, the generics and biosimilars unit. The company anticipates the deal to close in early October. Similarly, Sanofi is also taking a scalpel to its operations, offloading a selection of its central nervous…
Sanofi, Merck and Novartis top pharma M&A in recent years
Despite a temporary slowdown during the early days of the pandemic, the pharma sector has witnessed a steady rise in M&A activity over the years. The number of deals climbed from 23 in 2018 to 43 in 2022. Major players driving this trend include Sanofi, Merck & Co. and Novartis. Those three players have made…
Novartis aims to offload eye care unit to Bausch + Lomb for up to $2.5 billion
Novartis has agreed to sell ophthalmology assets to Bausch + Lomb for an upfront payment of $1.75 billion, with potential milestone payments of up to $750 million. The total value of the deal could reach $2.5 billion. Novartis expects the deal to improve their focus more on higher-margin drugs. Under the terms of the deal,…
Novartis to spend up to $3.5 billion to acquire Chinook amid pharma M&A upsurge in 2023
Eyeing the booming renal therapeutics market, Swiss pharmaceutical giant Novartis AG plans to spend up to $3.5 billion on Chinook Therapeutics. The deal marks the latest in a string of high-profile mergers and acquisition (M&A) deals in the pharma sector over the past roughly half year. Chinook’s kidney disease specialization in the Novartis M&A equation…
Novartis to spin off Sandoz
Novartis announced today that it intends to separate Sandoz into a new, publicly traded standalone company through a 100% spinoff. The spinoff of the generics and biosimilars division of Novartis aims to maximize shareholder value by creating the top European generics company and a global leader in biosimilars, according to a news release. Such a…
Novartis restarts production of radioligand therapy
Novartis announced recently that it has restarted radioligand therapy (RLT) production at two different sites. Basel, Switzerland-based Novartis on June 30 said that it restarted production in “early June” at its Ivrea, Italy, and Millburn, New Jersey, sites, according to a news release. The company had halted production in May due to what it cited…