40 Facts About Novartis

Novartis AG is a Swiss-American multinational pharmaceutical corporation based in Basel, Switzerland andCambridge, Massachusetts, United States .

The Sandoz brand disappeared for three years, but was revived in 2003 when Novartis consolidated its generic drugs businesses into a single subsidiary and named it Sandoz.

Novartis divested its agrochemical and genetically modified crops business in 2000 with the spinout of Syngenta in partnership with AstraZeneca, which divested its agrochemical business.

Novartis is a full member of the European Federation of Pharmaceutical Industries and Associations, the International Federation of Pharmaceutical Manufacturers and Associations, and the Pharmaceutical Research and Manufacturers of America .

Novartis AG is a publicly traded Swiss holding company that operates through the Novartis Group.

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Novartis AG owns, directly or indirectly, all companies worldwide that operate as subsidiaries of the Novartis Group.

Novartis's businesses are divided into three operating divisions: Innovative Medicines, Sandoz and Alcon .

Novartis has two significant license agreements with Genentech, a Roche subsidiary.

Novartis is the world's second-largest pharmaceutical company by market cap in 2019.

Novartis was created in March 1996 from the merger of Ciba-Geigy and Sandoz Laboratories, both Swiss companies.

Novartis began producing the fever-reducing drug antipyrin in the same year.

In 2003, Novartis organized all its generics businesses into one division, and merged some of its subsidiaries into one company, reusing the predecessor brand name of Sandoz.

In 2005, Novartis expanded its subsidiary Sandoz significantly through the US$8.

In 2007, Novartis sold the Gerber Products Company to Nestle as part of its continuing effort to shed old Sandoz and Ciba-Geigy businesses and focus on healthcare.

In 2009, Novartis reached an agreement to acquire an 85 percent stake in the Chinese vaccines company Zhejiang Tianyuan Bio-Pharmaceutical Co.

In 2011, Novartis acquired the medical laboratory diagnostics company Genoptix to "serve as a strong foundation for our individualized treatment programs".

Also in 2012, Novartis became the biggest manufacturer of generic skin care medicine, after agreeing to buy Fougera Pharmaceuticals for $1.

In 2013, Novartis was sued again by the US government, this time for allegedly bribing doctors for a decade so that their patients are steered towards the company's drugs.

In January 2014, Novartis announced plans to cut 500 jobs from its pharmaceuticals division.

Novartis acquired exclusive rights to market the eye drug outside of the states while retaining U S marketing rights.

In October 2014, Novartis announced its intention to sell its influenza vaccine business, subject to regulatory approval, to CSL for $275 million.

Novartis gave Laekna the exclusive international rights for the drugs that are oral pan-Akt kinase inhibitors namely; afuresertib and uprosertib .

Endocyte will bolster Novartis' offering in its radiopharmaceuticals business, with Endocyte's first in class candidate Lu-PSMA-617 being targeted against metastatic castration-resistant prostate cancer.

Alcon was listed on the SIX exchange in Switzerland and NYSE exchange in the U S Novartis announced during late 2019 a five-year artificial intelligence "alliance" with Microsoft.

In September 2020, Novartis was imposed a fine of €385 million by the French competition authority on accusations of abusive practices to preserve sales of Lucentis over a cheaper drug.

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Novartis is involved in publicly funded collaborative research projects, with other industrial and academic partners.

Novartis is expanding its activities in joint research projects within the framework of the Innovative Medicines Initiative of EFPIA and the European Commission.

Novartis is working with Science 37 in order to allow video based telemedicine visits instead of physical traveling to clinics for patients.

Novartis fought a seven-year, controversial battle to patent Gleevec in India, and took the case all the way to the Indian Supreme Court, where the patent application was finally rejected.

In 1993 before India allowed patents on products, Novartis had patented imatinib, with salts vaguely specified, in many countries but could not patent it in India.

Novartis made use of the EMR to obtain orders against some generic manufacturers who had already launched Gleevec in India.

Novartis set the price of Gleevec at US$2666 per patient per month; generic companies were selling their versions at US$177 to 266 per patient per month.

Novartis initiated a program to assist patients who could not afford its version of the drug, concurrent with its product launch.

Novartis did appeal the rejection by the patent office to India's Supreme Court, which took the case.

In September 2008, the US Food and Drug Administration sent a notice to Novartis Pharmaceuticals regarding its advertising of Focalin XR, an ADHD drug, in which the company overstated its efficacy while marketing to the public and medical professionals.

The first suit "accused Novartis of inducing pharmacies to switch thousands of kidney transplant patients to its immunosuppressant drug Myfortic in exchange for kickbacks disguised as rebates and discounts".

Outside the US, Novartis markets the drug ranibizumab, which is a monoclonal antibody fragment derived from the same parent mouse antibody as bevacizumab .

In June 2020, Novartis reached settlements with the US Department of Justice and the US Securities and Exchange Commission resolving all Foreign Corrupt Practices Act investigations into historical conduct by the company and its subsidiaries.

Novartis initially stated that the relationship ceased a month after entering the US$1.

Novartis has been committed for decades to eliminate Leprosy by providing free, multidrug therapy to all endemic countries since 2000.