Pharmaceutical giant Novartis has signed a licencing agreement increasing access to a vital leukaemia treatment, a UN-backed public health organisation said Thursday, marking the first-ever such agreement for a cancer drug.

The deal will give selected manufacturers the opportunity to develop, manufacture and supply generic versions of nilotinib, a twice-daily oral medication used to treat chronic myeloid leukaemia (CML).

"Access to high-quality cancer medicines is a crucial component of the global health response to the cancer burden," said Charles Gore, head of the Medicines Patent Pool, the United Nations-backed public health organisation working to increase access to life-saving medicines in poorer countries. 
 
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While the remaining patent period for nilotinib was "relatively short", he said the licencing deal set "a vital precedent that I hope other companies will follow", Gore said in a statement.

Novartis president of global health and sustainability Lutz Hegemann said the company was "proud to be pioneering this new licensing model with MPP".

The drug is listed on the World Health Organization's List of Essential Medicines for the treatment of adults and children over the age of one suffering from CML.

Zeba Aziz, a medical oncologist at Hameed Latif Hospital in Lahore, Pakistan, said nilotinib offers an alternative to people who are resistant or intolerant to imatinib, the first-line treatment for CML -- about 20 per cent of those who contract the disease.

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"I am glad more people in (low and middle-income countries) will have access to this essential cancer medicine," she said in the statement.

The licence includes seven middle-income countries: Egypt, Guatemala, Indonesia, Morocco, Pakistan, the Philippines and Tunisia, where patents on the product are pending or in force, MPP said.

The Access to Oncology Medicines (ATOM) Coalition welcomed the deal.

"This is a first for cancer treatment anywhere and demonstrates that the combined efforts of the private and public sectors can pave the way to help save millions of lives," ATOM co-chair Anil D-Cruz said in a separate statement. 
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Pharmaceutical giant Novartis has signed a licencing agreement increasing access to a vital leukaemia treatment, a UN-backed public health organisation said Thursday, marking the first-ever such agreement for a cancer drug.

Pharmaceutical giant Novartis has signed a licencing agreement increasing access to a vital leukaemia treatment, a UN-backed public health organisation said Thursday, marking the first-ever such agreement for a cancer drug. The deal will give selected manufacturers the opportunity to develop, manufacture and supply generic versions of nilotinib, a twice-daily oral medication used to treat chronic myeloid leukaemia (CML). "Access to high-quality cancer medicines is a crucial component of the global health response to the cancer burden," said Charles Gore, head of the Medicines Patent Pool, the United Nations-backed public health organisation working to increase access to life-saving medicines in poorer countries. ALSO READ: Report: More accurate test for cervical cancer developed by scientists in UK, Austria While the remaining patent period for nilotinib was "relatively short", he said the licencing deal set "a vital precedent that I hope other companies will follow", Gore said in a statement. Novartis president of global health and sustainability Lutz Hegemann said the company was "proud to be pioneering this new licensing model with MPP". The drug is listed on the World Health Organization's List of Essential Medicines for the treatment of adults and children over the age of one suffering from CML. Zeba Aziz, a medical oncologist at Hameed Latif Hospital in Lahore, Pakistan, said nilotinib offers an alternative to people who are resistant or intolerant to imatinib, the first-line treatment for CML -- about 20 per cent of those who contract the disease. ALSO READ: Study finds that less than 5 hours of sleep can lead to chronic illnesses like heart disease, cancer, diabetes "I am glad more people in (low and middle-income countries) will have access to this essential cancer medicine," she said in the statement. The licence includes seven middle-income countries: Egypt, Guatemala, Indonesia, Morocco, Pakistan, the Philippines and Tunisia, where patents on the product are pending or in force, MPP said. The Access to Oncology Medicines (ATOM) Coalition welcomed the deal. "This is a first for cancer treatment anywhere and demonstrates that the combined efforts of the private and public sectors can pave the way to help save millions of lives," ATOM co-chair Anil D-Cruz said in a separate statement. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

First-ever licencing deal struck for cancer drug

Executives at electric car marker Tesla, drug maker Novartis and retailer Bed Bath and Beyond are cutting spending or jobs in U.S. while others are shelving projects or deals as inflation rages and confidence in the world economy wanes.

Companies cut spending, jobs as economic outlook grows less certain

German biotech firm BioNTech has secured $325 million in a private financing round to boost its cancer immunotherapies pipeline, the company said on Tuesday.

Two-thirds of the money raised came from new investors, BioNTech said in a statement, adding that it would use the funds for research and development as well as its manufacturing infrastructure.

Earlier this year, people close to the matter told Reuters the company had hired banks to prepare an initial public offering which could value it at $4 billion.

Asked about the impact of the fresh funds on its plans to potentially float the company, a company official said BioNTech was still examining various financing options, reiterating earlier statements by the company.

In a first financing round in January 2018, the company secured $270 million.

BioNTech specialises in so-called messenger RNA (mRNA) molecules that instruct human cells to produce therapeutic proteins that trigger an immune response against cancer or infectious diseases. It also works on gene therapies and nanoparticles for cancer immunotherapy.

The company said the Struengmann family, which sold its generic drugs business Hexal to Novartis in 2005 and is already invested in BioNTech, was also among the donors in the second round of financing. It added that the family remained the main shareholder.

German biotech firm BioNTech has secured $325 million in a private financing round to boost its cancer immunotherapies pipeline, the company said on Tuesday. Two-thirds of the money raised came from new investors, BioNTech said in a statement, adding that it would use the funds for research and development as well as its manufacturing infrastructure.

German biotech firm BioNTech has secured $325 million in a private financing round to boost its cancer immunotherapies pipeline, the company said on Tuesday. Two-thirds of the money raised came from new investors, BioNTech said in a statement, adding that it would use the funds for research and development as well as its manufacturing infrastructure. Earlier this year, people close to the matter told Reuters the company had hired banks to prepare an initial public offering which could value it at $4 billion. Asked about the impact of the fresh funds on its plans to potentially float the company, a company official said BioNTech was still examining various financing options, reiterating earlier statements by the company. In a first financing round in January 2018, the company secured $270 million. BioNTech specialises in so-called messenger RNA (mRNA) molecules that instruct human cells to produce therapeutic proteins that trigger an immune response against cancer or infectious diseases. It also works on gene therapies and nanoparticles for cancer immunotherapy. The company said the Struengmann family, which sold its generic drugs business Hexal to Novartis in 2005 and is already invested in BioNTech, was also among the donors in the second round of financing. It added that the family remained the main shareholder.

Potential IPO candidate BioNTech secures $325 million in financing round

President Donald Trump&#39;s dinner with a European business delegation in Davos on the sidelines of the World Economic Forum meeting was attended by three Indian-origin CEOs.

They included Vas Narasimhan from Novartis, Rajeev Suri from Nokia and Punit Renjen from Deloitte.

Narasimhan was named Novartis CEO in September 2017. Singaporean citizen Suri is now based in Finland. He is the student of Manipal Institute of Technology.

Rohtak-born Punit Renjen has been CEO of Deloitt since June 2015.

Trump, in all, had invited 15 top European CEOs to discuss business and encourage them to invest in the US as part of his efforts to strengthen the American economy.

During the dinner, he spoke about the thriving US economy ?- crediting his tax policies, deregulation and his role as a cheerleader for American business.

The American delegation was attended by Secretary of State Rex Tillerson, Homeland Security Secretary Kirstjen Nielson, National Security Advisor H R McMaster and Dire of the National Economic Council Gary Cohen.&nbsp;

The CEOs included Vas Narasimhan from Novartis, Rajeev Suri from Nokia, and Punit Renjen from Deloitte

President Donald Trump's dinner with a European business delegation in Davos on the sidelines of the World Economic Forum meeting was attended by three Indian-origin CEOs. They included Vas Narasimhan from Novartis, Rajeev Suri from Nokia and Punit Renjen from Deloitte. Narasimhan was named Novartis CEO in September 2017. Singaporean citizen Suri is now based in Finland. He is the student of Manipal Institute of Technology. Rohtak-born Punit Renjen has been CEO of Deloitt since June 2015. Trump, in all, had invited 15 top European CEOs to discuss business and encourage them to invest in the US as part of his efforts to strengthen the American economy. During the dinner, he spoke about the thriving US economy ?- crediting his tax policies, deregulation and his role as a cheerleader for American business. The American delegation was attended by Secretary of State Rex Tillerson, Homeland Security Secretary Kirstjen Nielson, National Security Advisor H R McMaster and Dire of the National Economic Council Gary Cohen.

Three Indian-origin CEOs dine with Trump at Davos

&nbsp;Novartis&nbsp;Chief Executive Joseph Jimenez will retire in 2018, with chief drug developer Vasant Narasimhan taking over as CEO starting in February, the Swiss drugmaker said on Monday.

Jimenez, 58, is stepping down following a decade at&nbsp;Novartis&nbsp;after having successfully secured US approval for a new gene therapy for leukemia last week but before&nbsp;Novartis&nbsp;returned to sales growth, which the company has forecast will resume in 2018.

&quot;After 10 wonderful years in Switzerland, my family is ready to return to Silicon Valley and the United States,&quot; said Jimenez, a Stanford University graduate.

A&nbsp;Novartis&nbsp;employee since 2005, Narasimhan has increased his public presence at&nbsp;Novartis&nbsp;since becoming global head of drug development and chief medical officer in 2016.

Just 41, he is among a new generation of youthful leaders at&nbsp;Novartis&nbsp;that include head researcher Jay Bradner at the&nbsp;Novartis&nbsp;Institutes For Biomedical Research who have sought to improve the process in which drugs move from research to actually becoming a commercial product.

Novartis&nbsp;has been criticised for missing the first wave of promising cancer immunotherapy drugs and billions in sales.

&quot;Vas is deeply anchored in medical science, has significant experience in managing the interfaces between research and development and commercial units and has strong business acumen with a track record of outstanding achievements,&quot; Chairman Joerg Reinhardt said.

Last week,&nbsp;Novartis&nbsp;won US Food and Drug Administration approval for the $475,000-per-patient Kymriah for children and young patients with B-cell acute lymphoblastic leukemia, the first so-called CAR-T therapy to win the regulator&#39;s blessing.

Dismantling Novartis

Jimenez arrived in 2007 to lead&nbsp;Novartis&#39;s consumer health division and rose to CEO in 2010 under former Chairman Daniel Vasella, who left in 2013.

Under Jimenez&#39;s tenure,&nbsp;Novartis&nbsp;has largely dismantled Vasella&#39;s efforts to build a European healthcare giant by unloading animal care businesses, vaccines and over-the-counter drugs and instead focusing on its prescription drugs business, including an emphasis on cancer medicines and its Sandoz generics unit.

The loss of patent protection for&nbsp;Novartis&#39;s top-selling Gleevec blood cancer drug has led to stagnating sales as generic competition escalated.

Jimenez has promised a return to growth in 2018, as new drugs including psoriasis medicine Cosentyx absorb the hit.

Jimenez has also been plagued by problems at&nbsp;Novartis&#39;s Alcon eye care unit, where slumping sales of surgical equipment were blamed on poor customer service and a failure to innovate.

He swapped out nearly all of the division&#39;s leadership, and last quarter lifted the forecast for the division&#39;s sales to rise by a low single-digit percentage rate as&nbsp;Novartis&nbsp;said measures including increased marketing spending are helping turn the division around.

Alcon is currently being reviewed for a possible sale, and Jimenez has said its improving results open the door for a possible spin-off IPO.

Jimenez, 58, is stepping down following a decade at?Novartis?after having successfully secured US approval for a new gene therapy for leukemia last week but before?Novartis?returned to sales growth, which the company has forecast will resume in 2018

Novartis Chief Executive Joseph Jimenez will retire in 2018, with chief drug developer Vasant Narasimhan taking over as CEO starting in February, the Swiss drugmaker said on Monday. Jimenez, 58, is stepping down following a decade at Novartis after having successfully secured US approval for a new gene therapy for leukemia last week but before Novartis returned to sales growth, which the company has forecast will resume in 2018. "After 10 wonderful years in Switzerland, my family is ready to return to Silicon Valley and the United States," said Jimenez, a Stanford University graduate. A Novartis employee since 2005, Narasimhan has increased his public presence at Novartis since becoming global head of drug development and chief medical officer in 2016. Just 41, he is among a new generation of youthful leaders at Novartis that include head researcher Jay Bradner at the Novartis Institutes For Biomedical Research who have sought to improve the process in which drugs move from research to actually becoming a commercial product. Novartis has been criticised for missing the first wave of promising cancer immunotherapy drugs and billions in sales. "Vas is deeply anchored in medical science, has significant experience in managing the interfaces between research and development and commercial units and has strong business acumen with a track record of outstanding achievements," Chairman Joerg Reinhardt said. Last week, Novartis won US Food and Drug Administration approval for the $475,000-per-patient Kymriah for children and young patients with B-cell acute lymphoblastic leukemia, the first so-called CAR-T therapy to win the regulator's blessing. Dismantling Novartis Jimenez arrived in 2007 to lead Novartis's consumer health division and rose to CEO in 2010 under former Chairman Daniel Vasella, who left in 2013. Under Jimenez's tenure, Novartis has largely dismantled Vasella's efforts to build a European healthcare giant by unloading animal care businesses, vaccines and over-the-counter drugs and instead focusing on its prescription drugs business, including an emphasis on cancer medicines and its Sandoz generics unit. The loss of patent protection for Novartis's top-selling Gleevec blood cancer drug has led to stagnating sales as generic competition escalated. Jimenez has promised a return to growth in 2018, as new drugs including psoriasis medicine Cosentyx absorb the hit. Jimenez has also been plagued by problems at Novartis's Alcon eye care unit, where slumping sales of surgical equipment were blamed on poor customer service and a failure to innovate. He swapped out nearly all of the division's leadership, and last quarter lifted the forecast for the division's sales to rise by a low single-digit percentage rate as Novartis said measures including increased marketing spending are helping turn the division around. Alcon is currently being reviewed for a possible sale, and Jimenez has said its improving results open the door for a possible spin-off IPO.

Novartis's Jimenez to step down, Narasimhan named new CEO

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