There are situations where prices in the U.S. are certainly higher than the prices in Europe, but there are many situations, as well, where they are very comparable, it's difficult to make blanket statements, like this is always happening.

Vas Narasimhan

Categorized in : Top News

What we realized through this situation is, during a filing, it's difficult for us to exercise that judgment without it being later considered maybe not the best judgment, so we're just taking judgment out of that equation.

We are making a voluntary commitment to notify the FDA within five business days of receipt by our quality (control) organization of any credible allegation related to data integrity impacting any pending application in the Novartis Group.

Marie-France has a strong record of accomplishments in driving commercial excellence and a culture of inclusiveness and integrity.

At a $500,000 per QALY cut-off, the medicine is cost-effective in the range of $4-$5 million, and at a $150,000 per QALY cutoff, it's cost-effective at a range of $1.5 million, that's the range that we're looking at. That hopefully gives you some of the boundaries.

With respect to pricing in cell and gene therapies, I think what's often lost in the discussion is the remarkable impact of these medicines, these are true breakthroughs that come from a single infusion of a medicine that don't require lifelong therapy.

We (Novartis) pay almost 50 percent of our gross revenues in the United States into rebates, if you return those rebates to patients, so patients pay less out of pocket, I think that is something that makes a lot of sense and will correct a distortion in the marketplace.

I would say, over the last 20 years, because of behaviors that the industry had - I would call them outlier events, (but) it's hard to call them outlier events, when there's enough of the outlier events - damaged the industry's reputation, at least at Novartis, I think of it as the great journey of my time as CEO to try to get back to a different place from a reputation standpoint.

At Novartis, we no longer see net price growth as a meaningful co... by Vas Narasimhan

At Novartis, we no longer see net price growth as a meaningful contributor.

Our use of the television and television media has eroded some of the trust in the fact that we're a science-based industry.

We also have made mistakes recently and the world rightly expects more from a leading healthcare company, our new executive team and I have a deep commitment to ensure we always operate with the highest integrity and sound judgment and will work hard to rebuild lasting trust with society.

These trials will increase our understanding of heartfailure, the patient population who may benefit from Entresto, and could potentially support applications to regulatory authorities.