Novartis Revenues Run via Biosimilar Success

Novartis reported great Qtr3 results.  Revenues were up 13% and profits 10% year on year. The Sandoz generics unit played a big part in the runup.  Fierce Biotech reported on a Reuters story that enoxaparin, Novartis' recently approved biosimilar version of Lovenox, saw its revenues reach $292 M in the Qtr putting it on pace to pass the magical $1 B blockbuster mark.

The Sandoz unit also has three other biosimilars that are doing well - so far these consist of biologics like HGH and EPO. New drugs in Novartis' pipeline contributed to 20% of group revenues - up from 15% in the prior year.  With Pfizers announcement of a push in the biosimilar area too - as evidenced by its licensing deal with Biocon for insulin and insulin analogs - look for the Big Guys to rush down this track.

"The train has left the terminal and it's travelling in one direction," Evolution Securities' Dominic Valder tells Reuters. See Fierce Biotech.

  

Posted by Bruce Lehr October 21st 2010.