Maharashtra: Novartis India buys Minipress brands from Pfizer for Rs 1250 crore

Novartis (NVS) reports promising Phase 3 trial results for remibrutinib in MS, with potential $3B peak annual sales. Kesimpta, its existing MS drug, saw Q2 sales of $1.42B. Analysts highlight growth opportunities but note risks like competition and market maturity.

European stocks were mixed, with energy stocks rising due to higher oil prices after US-Iran tensions. Novartis fell 3.2% after a drug trial failure, while SOITEC and Infineon gained. ASX futures indicate a 0.1% drop. Brent crude reached $98/barrel. Investors remain optimistic despite energy price sensitivity.

Novartis (NYSE:NVS) shares fell 1.9% after pelacarsen failed in a Phase 3 trial, erasing CHF4.9 billion in market value. The drug did not reduce cardiovascular events despite lowering lipoprotein(a). The company enrolled 8,323 patients in the Lp(a)HORIZON trial.

Novartis India, controlled by ChrysCapital, will acquire Pfizer's Minipress blood pressure brand for Rs 1,250 crore ($132 million). Minipress recorded Rs 228.6 crore revenue with a 6.3% CAGR. Pfizer will discontinue Minipress XL marketing. Novartis India aims to expand its portfolio and strengthen flagship brands. ChrysCapital recently acquired 70.68% of Novartis India.

Amgen shares fell 5% after Novartis' pelacarsen failed to meet its primary endpoint in a phase III study, raising concerns about Lp(a)-lowering therapies. Amgen's olpasiran, also targeting Lp(a), is under investigation. Novartis and Ionis shares also declined. Year-to-date, Amgen shares are up 36.3%.

Novartis AG's experimental cholesterol drug pelacarsen failed in a late-stage study, missing its target of reducing major cardiovascular events. Analysts had projected potential annual sales of $3B to $6B. The company must now rely on other drugs in its pipeline to drive future growth, according to the article.