Swiss drugmaker Novartis (NYSE:NVS) said it plans to cut costs and focus its resources on research and development and growing its products in emerging markets.
The company said earlier this month:
With the pharmaceuticals portfolio shifting to a greater percentage of specialty care business, Novartis will continue to optimize its marketing and sales (M&S) spending by re-allocating resources geographically as well as simplifying current processes.
The drugmaker has one of the strongest pipelines among all pharma companies, said Fierce Pharma’s Maureen Martino. It has 142 pipeline projects, 35 percent of which are in Phase III or have already been registered with the FDA. Novartis is planning 30 regulatory submissions by the end of 2012. (Fierce Pharma)
Leerink Swann initiated coverage on Novartis with an Outperform this month.
We recommend that long-term investors build a position in NVS as we believe it offers exciting new product opportunities led by Gilenya and Tasigna, which together have $5B in revenue potential in ’16E…,
said the analysts in a research report. (StreetInsider).