Swiss pharmaceutical giant Novartis said Wednesday that it does not plan to enter into the 'frenzy' of weight loss drugs.
Swiss pharmaceutical giant Novartis said Wednesday that it does not plan to enter into the "frenzy" of weight loss drugs.
CEO Vas Narasimhan said the company was researching treatments that deal with the secondary effects of weight loss, but that it does not plan to compete directly with Novo Nordisk and Eli Lilly.said Wednesday that the Swiss pharmaceutical giant does not plan to enter into the "frenzy" of weight loss drugs, preferring instead to focus on areas where it can build a "unique position.
Speaking to CNBC, Vas Narasimhan said that the company was researching treatments that deal with the secondary effects of weight loss, but that it does not plan to compete directly with dominant obesity drugmakers"I think just to follow on the frenzy now would not be the right move for Novartis," he told CNBC's "Squawk Box Europe."
"With obesity right now, we have two very entrenched large players, and I think for future entrants you have to find something new, some sort of new angle that either reduces the nausea and the vomiting or gives patients the ability to lose their weight and retain their muscle," he said, highlighting existing work in such areas within Novartis' research labs.However, Narasimhan said his company was targeting areas "we know we can win.
"That's an area where we think we could build a $20 billion-plus business over time and hopefully build a unique position rather than chasing the other markets," he said.Tuesday from the U.S. Food and Drug Administration for its Kisqali metastatic breast cancer drug to be used to treat patients with earlier stages of the disease.
Pfizer Inc Roche Holding AG Eli Lilly And Co Novo Nordisk A/S Novo Nordisk A/S Novartis AG Novartis AG Biotech And Pharmaceuticals Biotechnology Pharmaceuticals Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Polestar CEO Ingenlath replaced by ex-Opel/Vauxhall CEOThomas Ingenlath resigns, having led the EV firm since its formation seven years ago
Read more »
Why Wednesday Season 2 Is Taking So Long To MakeJenna Ortega as Wednesday Addams in Wednesday
Read more »
Netflix’s Popular New Sci-Fi Movie Is A Great Reminder To Watch Jenna Ortega’s Underrated Horror From 4 Years AgoJenna Ortega as Wednesday Addams giving a stern stare at someone in Wednesday season 1
Read more »
Wednesday Writers Address Jenna Ortega’s Controversial Criticism Of Season 1’s ScriptsJenna Ortega scowling as Wednesday Addams in Wednesday season 1
Read more »
I’m Choosing To Believe This Wednesday Season 2 Theory That Perfectly Solves The Identity Of The StalkerJenna Ortega as Wednesday Addams in Wednesday
Read more »
Novartis is building manufacturing site in Carlsbad to bolster precision cancer treatmentThe new 10,000 square foot site will support Novartis’ West Coast supply chain for cancer therapies.
Read more »