Thursday, 1 January 2009
Novartis sales hit by drugs coming off-patent
This blog recently reported on the effect that the push to using more generic drugs could have on the value of research-based pharmaceutical companies (see IP finance ... where money issues meet intellectual property rights: Future President Obama and Generic Drugs and Biologics).
This issue was highlighted by a recent article on Fox Business reporting an interview that Novartis CEO gave in the Wall Street Journal. Joe Jimenze noted that sales of the drug Diovan (used for treating high-blood pressure) are expected to plunge when the drug comes off-patent in 2012. Apparently 21% of Novartis annual revenue of USD 39.8 Billion is at risk due to this and other patent expiries.