Lates News

Novartis (NVS.N) expects a decline in profits this year due to increased competition from generic drugs for core blockbuster drugs such as heart disease medication Norvasc. The company said on Wednesday that core operating income could see a low single-digit decrease when calculated at fixed exchange rates. Sales are expected to grow in the low single-digit range. CEO Vas Narasimhan's strategy to focus on innovative drugs will be tested this year as Norvasc and other established blockbuster drugs face pressure from generic competitors. Novartis is currently introducing a new drug to treat autoimmune skin diseases and will soon release key data for experimental therapies targeting heart disease and multiple sclerosis. Novartis has committed to building seven new facilities in the United States as part of its $23 billion investment plan to expand manufacturing in the US. A significant portion of this investment will focus on radioligand therapy (RLT) - a cancer treatment method that uses targeted drugs to deliver radioactive isotopes directly to tumors.