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    NOVN   CH0012005267

NOVARTIS AG

(NOVN)
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Novartis launches review into safety of eye drug Beovu

02/25/2020 | 05:37am EDT

Novartis has launched an external review into the safety of its blindness medicine Beovu after the American Society of Retinal Specialists (ASRS) raised concerns.

The Swiss drugmaker's shares fell nearly 3% in early trading after the ASRS communicated to its members about the drug, a replacement for Novartis' blockbuster Lucentis.

Since Beovu's approval last October, ASRS has received reports of 14 cases of vasculitis, an inflammation of the blood vessels, of which 11 were designated occlusive retinal vasculitis - a sight-threatening inflammatory eye condition.

Novartis said it was aware of recently reported adverse effects of the drug, adding it "stands behind the safety and efficacy of Beovu."

"In addition to our own internal assessment, we have engaged an external safety review committee (SRC) to further evaluate these post-marketing cases. We will continue to share details as they become available," the company said.

Around 46,000 injections of Beovu have so far been administered, Novartis said. The U.S. Food and Drug Administration was aware of the review, while the company is now informing other health authorities.

"Our clinical development and pharmacovigilance teams are working with healthcare professionals to quickly obtain and evaluate all available information in order to classify these events and identify potential risk factors," Novartis said.

The company received approval from the FDA for Beovu in October and the go-ahead in Europe earlier this month.

Beovu injections are used to treat wet age-related macular degeneration, a condition which can eventually lead to blindness and affects around 20 million people worldwide.

(Reporting by John Revill; editing by Jason Neely, Kirsten Donovan)


ę Reuters 2020
Stocks mentioned in the article
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DEERE & COMPANY 2.40% 336.47 Delayed Quote.22.27%
JASON CO., LTD. -0.54% 556 End-of-day quote.-16.77%
MEMBERS CO., LTD. -2.69% 3250 End-of-day quote.40.15%
NOVARTIS AG 0.41% 86.02 Delayed Quote.2.47%
SWISS RE LTD -0.05% 85.12 Delayed Quote.2.14%
THE LEAD CO., INC. -8.47% 746 End-of-day quote.-11.19%
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Financials (USD)
Sales 2021 51 668 M - -
Net income 2021 9 938 M - -
Net Debt 2021 22 978 M - -
P/E ratio 2021 20,7x
Yield 2021 3,53%
Capitalization 208 B 209 B -
EV / Sales 2021 4,48x
EV / Sales 2022 4,19x
Nbr of Employees 110 000
Free-Float 87,4%
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Technical analysis trends NOVARTIS AG
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 25
Average target price 106,77 $
Last Close Price 92,83 $
Spread / Highest target 60,4%
Spread / Average Target 15,0%
Spread / Lowest Target -5,68%
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Managers and Directors
NameTitle
Vasant Narasimhan Chief Executive Officer
Harry Werner Kirsch Chief Financial Officer
Hans J÷rg Reinhardt Independent Non-Executive Chairman
John Tsai Chief Medical Officer
Klaus Moosmayer Chief Ethics Risk & Compliance Officer
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