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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Novartis    NOVN   CH0012005267

NOVARTIS

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Novartis : Amgen, Novartis, Banner Institute Discontinue Alzheimer's Prevention Clinical Research Program

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07/11/2019 | 05:16pm EDT

By Stephen Nakrosis

Amgen Inc. said Thursday a clinical research program it was conducting into Alzheimer's prevention with Novartis AG (NVS) and the Banner Alzheimer's Institute was being discontinued.

The program was studying the effect of the BACE1 inhibitor CNP520, or umibecestat, as part of the Alzheimer's Prevention Initiative Generation Program, Amgen said. Specifically, the program was researching the safety and efficacy of CNP520 for the prevention or delay of the onset of Alzheimer's disease in certain patients.

Amgen said "After review of clinical data, the sponsors concluded that the potential benefit for participants in the studies did not outweigh the risk."

Amgen and Novartis formed a global collaboration in 2015 to develop and commercialize pioneering treatments in the field of migraine and Alzheimer's disease. The studies are sponsored by Amgen and Novartis, in collaboration with Banner Alzheimer's Institute, Amgen said.

David Reese, executive vice president of Research and Development at Amgen, said "Although the outcomes of the research program did not lead to the results we aimed for, we are committed to sharing our findings to help advance the medical and scientific community one step further toward finding a prevention for this devastating disease."

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
AMGEN -0.71% 203.21 Delayed Quote.5.13%
NOVARTIS 0.08% 86.4 Delayed Quote.16.20%
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Financials (USD)
Sales 2019 46 902 M
EBIT 2019 13 829 M
Net income 2019 9 642 M
Debt 2019 17 425 M
Yield 2019 3,42%
P/E ratio 2019 18,2x
P/E ratio 2020 19,8x
EV / Sales2019 4,59x
EV / Sales2020 4,28x
Capitalization 198 B
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 94,12  $
Last Close Price 86,40  $
Spread / Highest target 24,4%
Spread / Average Target 8,93%
Spread / Lowest Target -6,83%
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NameTitle
Vasant Narasimhan Chief Executive Officer
Hans Jörg Reinhardt Independent Non-Executive Chairman
Harry Werner Kirsch Chief Financial Officer
John Tsai Chief Medical Officer
Elizabeth Theophille Chief Technology & Digital Officer
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AMGEN5.13%122 735