Swiss pharmaceutical company, Novartis, has given a positive assessment of the battle it is facing to produce more blockbuster drugs and overcome the so-called “patent cliff”.
Over the past few years, many of Novartis’ key drugs have lost exclusivity in major markets and are coming up against tough generic competition. However, the pharma company has announced it is confident it can retain its success and growth in the future, with over 139 projects currently in clinical development. These projects include more than 73 new molecular entities, spread across a wide area of diseases, including cancer, heart and respiratory treatments.
Novartis believes it could produce 14 or more blockbusters within five years.
"As a science-driven company, Novartis is focused on innovation to address unmet medical needs for patients around the world. As a result, our leading pipeline in all phases of development positions us well for continued future growth."
Joseph Jimenez, CEO of Novartis.
Since 2007, the Novartis Group has had 56 new approvals in the US, Europe, China and Japan. In 2012 alone, the pharmaceuticals division has received 9 approvals or positive recommendations to date.
The company’s current portfolio has established a strong foundation for future growth, as it includes advanced breast cancer drug, Afinitor, COPD treatment Seebri Breezhaler, rare blood cancer drug Jakavi and Signifor, for the treatment of Cushing’s disease.