Novartis CEO Sees Big Potential In Biosimilars

Date : 04/24/2012 @ 9:02AM
Source : Dow Jones News
Stock : Novartis Ag (NVS)
Quote : 73.4  -0.22 (-0.30%) @ 4:02PM

Novartis CEO Sees Big Potential In Biosimilars

Novartis (NYSE:NVS)
Historical Stock Chart

5 Years : From Apr 2012 to Apr 2017

Click Here for more Novartis Charts.

Novartis AG (NVS) Chief Executive Joe Jimenez said Tuesday he sees potential in the market for biosimilars, cheaper versions of expensive and complex medicines made from biological matter.

"This is a market that is relatively small today, but we expect that by 2020 this could be a 15 to 20 billion dollars segment of the generics business," Jimenez told analysts in a call. "Novartis is uniquely positioned in biosimilars because we have the scientific and medical expertise of a pharmaceutical company and the commercial expertise of a generics company," he said. Novartis has its own generics unit, Sandoz.

Biosimilars are imitations of biotech drugs, ones that are basically interchangeable with a previously approved biologic but because of the inherent complexity of the products cannot be termed identical.

-By Marta Falconi, Dow Jones Newswires; +41 43 443 8043; marta.falconi@dowjones.com




Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.