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

NOVARTIS AG

(NOVN)
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Delayed Quote. Delayed Swiss Exchange - 11/25 07:01:17 am
81.1 CHF   +1.03%
06:06aNOVARTIS AG : UBS reiterates its Buy rating
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04:30aNOVARTIS AG : Goldman Sachs remains its Buy rating
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11/24GLOBAL MARKETS LIVE: Tesla, Best Buy, Qantas…
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New $1 billion fund aims to steer antibiotic companies in tough market

07/09/2020 | 09:29am EST
FILE PHOTO: A logo for Pfizer is displayed on a monitor on the floor at the NYSE in New York

By Manas Mishra

Several large drugmakers including Merck & Co Inc and Pfizer Inc on Thursday unveiled a $1 billion (790 million pounds) fund to bolster struggling antibiotic companies and sustain a pipeline for new treatments.

Antibiotic makers have struggled with anemic investment and bankruptcies, even after the approval of new drugs, as fears of drug-resistant microbes force hospitals to adopt a more conservative approach toward such treatments.

Public health authorities have raised alarms about a looming health crisis, saying deaths from antibiotic-resistant bacteria could dwarf that from the COVID-19 pandemic.

The fund, led by the International Federation of Pharmaceutical Manufacturers & Associations, seeks to serve as a temporary solution until new legislation can offer a more permanent fix in the market.

It aims to help shore up investment in smaller biotech companies after several large drugmakers, such as Sanofi SA bowed out of the antibiotics space.

"The fund is being developed to buy time for the future," said Eli Lilly and Co CEO David Ricks. "We are probably buying 4-5 years of time with this initiative."

Other companies participating in the fund include Johnson & Johnson, Novartis and GlaxoSmithKline.

The initiative "gives these biotechs access to the kinds of capabilities that large pharmaceutical companies have, such as manufacturing and regulatory," said Silas Holland, head of external affairs for the fund and director of global public policy at Merck.

An independent scientific panel will review and recommend funding for companies developing promising novel antibiotics, Holland said. The group's goal is to bring two to four new antibiotics to patients within a decade.

(Reporting by Manas Mishra in Bengaluru and Robin Respaut in San Francisco; Editing by Anil D'Silva and Ramakrishnan M.)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ELI LILLY AND COMPANY 1.06% 144.9 Delayed Quote.10.25%
GLAXOSMITHKLINE PLC 0.29% 1383.4 Delayed Quote.-22.43%
NOVARTIS AG 0.93% 81.1 Delayed Quote.-12.66%
NOVO NORDISK A/S 0.08% 413 Delayed Quote.6.76%
PFIZER INC. 0.22% 36.6 Delayed Quote.-6.59%
SANOFI 0.84% 84.96 Real-time Quote.-6.04%
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Financials (USD)
Sales 2020 49 152 M - -
Net income 2020 8 354 M - -
Net Debt 2020 19 978 M - -
P/E ratio 2020 24,0x
Yield 2020 3,58%
Capitalization 200 B 200 B -
EV / Sales 2020 4,48x
EV / Sales 2021 4,11x
Nbr of Employees 110 000
Free-Float 86,9%
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Technical analysis trends NOVARTIS AG
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 105,85 $
Last Close Price 88,10 $
Spread / Highest target 59,8%
Spread / Average Target 20,1%
Spread / Lowest Target -26,5%
EPS Revisions
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
Sector and Competitors
1st jan.Capitalization (M$)
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