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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Novartis AG    NOVN   CH0012005267

NOVARTIS AG

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Novartis : Shares Lifted by Prospect of Gilenya Exclusivity in US -- Update

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07/12/2018 | 12:53pm EDT

By Donato Paolo Mancini

Novartis AG's (NOVN.EB) closed higher on Thursday after jumping on news of a ruling that suggested that market exclusivity for the company's multiple-sclerosis blockbuster drug Gilenya in the U.S. will likely be extended.

"A favorable resolution of the dosage regimen patent litigation" may lengthen the period in which the drug is free from generic competition, according to a Novartis document seen by Dow Jones Newswires.

The note was sent out at around midday Thursday, two analysts told Dow Jones, and shares started climbing around that time. One of the analysts said the market wasn't expecting the decision, so that sent the share price up.

According to the document, the Patent Trial and Appeal Board of the U.S. Patent and Trademark Office issued a decision upholding the validity of the dosage-regimen patent on Wednesday. The decision can be appealed, the document said.

Gilenya had sales of $3.19 billion in 2017, according to the company's annual report.

Novartis said it was pleased with the decision, and that it expected to maintain exclusivity until August 2019.

Shares closed up 4.1% at CHF78.94.

Write to Donato Paolo Mancini at donatopaolo.mancini@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
NOVARTIS AG -0.01% 75.49 Delayed Quote.-17.85%
PROSPECT CO., LTD. 2.86% 36 End-of-day quote.24.14%
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Financials (USD)
Sales 2020 49 512 M - -
Net income 2020 8 799 M - -
Net Debt 2020 20 241 M - -
P/E ratio 2020 20,2x
Yield 2020 3,80%
Capitalization 182 B 182 B -
EV / Sales 2020 4,09x
EV / Sales 2021 3,72x
Nbr of Employees 110 000
Free-Float 84,4%
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 104,08 $
Last Close Price 82,71 $
Spread / Highest target 56,7%
Spread / Average Target 25,8%
Spread / Lowest Target -1,52%
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Managers
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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