Novartis, a Swiss multinational pharmaceutical company, has a lot to celebrate about, as their heart failure drug has met with approval in Europe. Novartis’s drug called Entresto is designed to decrease the risk of heart failure, hospitalization, and cardiovascular death.
When can patients with heart disease expect to see the drugs in their nearest stores? According to the company, the drug will be available for purchase by the end of this year. The drug first passed inspection in July by the U.S. Federal Drug Administration who quickly gave it a green light — six weeks before Entresto’s action date.
When asked about their wholesale acquisition charge, the company said it would be $12.50 at regular price less discounts. With the drug having won approval in the United States, Novartis wanted to achieve European approval to take a large share in the European market. They acquired backing from EU regulators and just like that, they were on track with the launch of Entresto in Europe.
Novartis’s announcement of the drug’s abilities to reduce the risk of heart attacks in patients created a lot of hype. For many years the medical industry hadn’t introduced any new drugs to help patients who suffering from heart disease as such the introduction of Entresto or LCZ696 is a big deal.
Patients diagnosed with heart disease always have a looming threat that their heart will stop pumping blood, resulting in a heart attack. To keep the heart functioning, they rely on modern medicines. Novartis wants Entresto to be the drug that heart patients use and can trust to keep their heart functioning efficiently.
Analysts have already begun to estimate the drug’s yearly sales, stating them to be around $4.4 billion by 2020. In order for that figure to be accurate, they have to wait for the European Commission to approve the drug. Once the pharmaceutical company receives their approval, they can set the price.
According to Dermot Doherty, Novartis’ spokesperson, “Prices in [European countries] will be confirmed after EC approval and will be determined according to local pricing and reimbursement regulations, submissions, and evaluation processes.”
Novartis’ home country of Switzerland has already approved the drug. With Switzerland and the United States already onboard, the company now awaits Europe’s approval. Immediately after its approval, the drug will be available to treat adult patients suffering from symptomatic chronic reduced ejection fraction.
Entresto has showed spectacular results in trials especially when conducted alongside a popular generic heart medicine. Entresto was shown to decrease the risk of cardiovascular death and hospitalization due to heart failure by a fifth. With the positive outcome of the trials, the company stocks rose considerably by 3.85%.
The hike in Novartis’ stocks did not surprise Stefan Schneirder, an analyst at Bank Vontobel. He said that he expected the company’s stock to improve, especially after the trials showed that it cut the risk of heart-related death by 20%.
Novartis, which once was at the top of their game with Divon, a drug that regulates blood pressure, faced tough competition from generic drugs. Now, the company hopes to change its luck with Entresto and rise to the top once again.
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