Novartis milestones be proud ! Management take a bow !

Quote
Novartis AG (ADR) Stock Was Sold By Options Traders
November 29, 2016 Nellie Frank


Novartis-AG-ADR-Stock-Was-Sold-By-Options-Traders.jpg


In today’s session Novartis AG (ADR) (NVS) recorded an unusually high (654) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious NVS decrease. With 654 contracts traded and 2154 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: NVS170120P00067500 closed last at: $1.3 or 18.8% down. About 328,175 shares traded hands. Novartis AG (ADR) (NYSE:NVS) has declined 10.16% since April 26, 2016 and is downtrending. It has underperformed by 15.42% the S&P500.

Analysts await Novartis AG (ADR) (NYSE:NVS) to report earnings on January, 25. They expect $1.08 EPS, down 2.70% or $0.03 from last year’s $1.11 per share. NVS’s profit will be $2.83B for 16.02 P/E if the $1.08 EPS becomes a reality. After $1.23 actual EPS reported by Novartis AG (ADR) for the previous quarter, Wall Street now forecasts -12.20% negative EPS growth.
 






Novartis AG (NVS) Position Reduced by Assetmark Inc.
Posted by Grant Hamersma on Nov 30th, 2016

Assetmark Inc. cut its stake in shares of Novartis AG (NYSE:NVS) by 20.0% during the third quarter, according to its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company.
 






Zacks Investment Research Downgrades Novartis AG (NVS) to Sell
December 1st, 2016 - By Scott Moore

Novartis AG (NYSE:NVS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Novartis’ third-quarter 2016 results were mixed with the company beating earnings estimates but missing on revenues. The company is facing challenging business conditions due to generic competition and weakness in the Alcon business. Generic competition for Gleevec, Exelon Patch, Diovan and Exforge; increased spending related to the ongoing launches of Entresto and Cosentyx; the restructuring plan for Alcon; and unfavorable currency fluctuations will continue to dampen the company’s performance in the upcoming quarters.
 






ALCON DROWNING, WILL NEED A REAL PHARMA CO TO REVITALIZE IT JUST LIKE VACCINES

Mon Dec 12, 2016 | 5:02am EST
Novartis eye drug franchise hit by failed Fovista studies

By John Miller | ZURICH
Novartis's bid to bolster its eye drug portfolio suffered a setback on Monday when it announced combining Lucentis with Fovista in patients with neovascular age-related macular degeneration (nAMD) did not produce better outcomes than treatment with Lucentis alone.

Two phase III studies that combined Ophthotech's Fovista with Lucentis "did not meet the primary endpoint of superiority", Novartis said in a statement.

Two years ago, the Swiss drugmaker signed a potential $1 billion licensing deal with Ophthotech to market Fovista outside the United States.
 






Novartis Loses At BALCA In Case Over Exec. Director Job
By Allissa Wickham

New York (December 8, 2016, 9:45 PM EST) -- The Board of Alien Labor Certification Appeals on Wednesday upheld the denial of permanent labor certification for an executive director position at Novartis Pharmaceuticals Corp., finding a certifying officer had correctly found the company rejected U.S. workers for the post for “other than lawful, job-related reasons.”
The three-judge BALCA panel affirmed the officer’s denial of Novartis' application for a permanent labor certification for an “Executive Director, Lead Brand Safety Leader” position. The panel said that in light of two U.S. applicants’ “extensive backgrounds in drug safety,” the company was required to interview them.

“Therefore, the CO properly found that the employer rejected these U.S. workers for other than lawful, job-related reasons,” the panel ruled.
 






Greece investigates Novartis for alleged bribery
JAN 3, 2017 - 21:24

A Greek investigation into allegations of corruption against the Basel-based pharmaceutical giant has been announced following the attempted suicide of a Greek Novartis official on Sunday.
On Tuesday, Greek parliamentarian Stavros Kontonis promised a “quick and thorough” investigation into allegations of bribery and corruption on the part of certain Novartis officials.

According to a statement from the Greek justice ministry, Kontonis ordered the investigation following “denunciations (published in the press) concerning bribery payments to officials by Novartis”.

Swiss news agency ATS reports that according to a judicial source, a preliminary investigation has been underway for the last two months, and about 178 people have been interviewed regarding presumed illegal discounts offered by Novartis to civil servants or doctors. The amount of the payments has not yet been named.

The case has rebounded in recent days after a suicide attempt on New Year’s Day in Athens by a Greek Novartis executive, which was ultimately prevented by police. According to the same judicial source, the person attempting suicide would have been among those interviewed in relation to the case.

The source indicated that agents from the US Federal Bureau of Investigation are also in Athens to investigate Novartis with Greek authorities. Novartis was investigated by US authorities in 2014 in a bribery case in which payments were made to boost sales of certain drugs.

In a statement Tuesday evening to French news service AFP, a Novartis spokesperson assured “full cooperation with the demands of authorities both local and foreign. Novartis is committed to the highest standards in matters of ethical business conduct and regulatory compliance in all aspects of its business, and takes very seriously all allegations of misconduct".
 






HOW MANY TIMES DOES NOVARTIS KEEP COMMITTING THE SAME CRIMES? BETTER WATCH YOUR ASSES WITH ALL THE LIKELY BOGUS ENTRESTO PROGRAMS OR YOU"LL BE NEXT TO JUMP OUT A WINDOW ! MEANWHILE VASELLA IS CHILLIN IN MONACO WITH HIS 150 MILLION


Police raid Novartis offices in Athens - executive threatens with suicide
TornosNews.gr 03.01.2017 | 22:22

800px_Police_Greece_853628646.jpg

Corruption prosecutors raided the offices of Swiss drug maker Novartis in Athens a few days ago
Corruption prosecutors raided the offices of Swiss drug maker Novartis in Athens a few days ago as part of an ongoing investigation over bribery allegations, sources told Athens-Macedonian News Agency (ANA) on Tuesday.

According to the same sources, the prosecutors requested a thorough search to gather electronic data and documents relating to the probe which was launched in Greece in mid-December. The investigation was ordered by the Supreme Court’s prosecution after a file with media reports on bribery allegations was submitted by Justice Minister Stavros Kontonis. The reports claimed Novartis bribed doctors and public officials to boost prescriptions and company sales.

Greek authorities have also requested the assistance of U.S. authorities which, along with the Securities and Exchange Commission (SEC) first launched an investigation into the drug maker two years ago. According to the reports, two executives of Novartis in Greece had submitted to U.S. authorities hundreds of documents which prove payments to private doctors and doctors who work in the public healthcare system (more than 4,000 in total), in an effort to promote the company’s products.

The prosecution requested that U.S. authorities share any data pertaining to the Greek part of the scandal.

High rank executive of Novartis threatened to kill himself at Hilton

In the meanwhile, protothema.gr reported that in the first day of 2017, a 44-year-old man was threatening that he would jump from the 13th floor of the Hilton in Athens. It was Sunday around 17:00’ and according to him, he was a high rank executive of Novartis.

Finally, it was the police negotiator that talked him into rethinking it. The 44-year-old’s wife and mother were also there present.

When he was moved to the police station for a statement he “broke” and he started telling to the police officers that “they will not put onto me all the ‘sins’ of the company” arguing that he had been set up and that he was afraid for his life. He was apparently talking about the Novartis case.

It was confirmed that he is indeed a high rank executive of the company who was also transferred to the headquarters of the company in Switzerland.

The FBI and the Ministry of Justice of the USA are investigating the company. A few days ago, according to sources of Proto Thema, two company executives traveled to the US with their attorney Pavlos Sarakis to testify what they know about the case. They were placed under the Witness Protection Program.

Background of the Novartis case

The US authorities are investigating the multinational pharmaceutical company Novartis since August the 12th 2016 when a big Washington based law firm submitted a report that included the statements of two former company employees in Greece regarding unfair methods that the company uses to improve its position in the Greek market.

The two former employees testified to the US Securities and Exchange Commission. Their position gave them access to proofs on bribing of doctors, public servants, high rank officials and companies in order to get favorable decisions for Novartis and to have a greater share in the Greek market.

The two men have submitted hundreds of documents as well as the name of companies Novartis used in order to “launder” money.

The accusations against the company are that of bribing, insufficient internal auditing to find the illegal payments of doctors, officials, companies and media that criticize politicians whose decisions effected the company’s interests.
 






POLICE RAID said:
HOW MANY TIMES DOES NOVARTIS KEEP COMMITTING THE SAME CRIMES? BETTER WATCH YOUR ASSES WITH ALL THE LIKELY BOGUS ENTRESTO PROGRAMS OR YOU"LL BE NEXT TO JUMP OUT A WINDOW ! MEANWHILE VASELLA IS CHILLIN IN MONACO WITH HIS 150 MILLION


Police raid Novartis offices in Athens - executive threatens with suicide
TornosNews.gr 03.01.2017 | 22:22

800px_Police_Greece_853628646.jpg

Corruption prosecutors raided the offices of Swiss drug maker Novartis in Athens a few days ago
Corruption prosecutors raided the offices of Swiss drug maker Novartis in Athens a few days ago as part of an ongoing investigation over bribery allegations, sources told Athens-Macedonian News Agency (ANA) on Tuesday.

According to the same sources, the prosecutors requested a thorough search to gather electronic data and documents relating to the probe which was launched in Greece in mid-December. The investigation was ordered by the Supreme Court’s prosecution after a file with media reports on bribery allegations was submitted by Justice Minister Stavros Kontonis. The reports claimed Novartis bribed doctors and public officials to boost prescriptions and company sales.

Greek authorities have also requested the assistance of U.S. authorities which, along with the Securities and Exchange Commission (SEC) first launched an investigation into the drug maker two years ago. According to the reports, two executives of Novartis in Greece had submitted to U.S. authorities hundreds of documents which prove payments to private doctors and doctors who work in the public healthcare system (more than 4,000 in total), in an effort to promote the company’s products.

The prosecution requested that U.S. authorities share any data pertaining to the Greek part of the scandal.

High rank executive of Novartis threatened to kill himself at Hilton

In the meanwhile, protothema.gr reported that in the first day of 2017, a 44-year-old man was threatening that he would jump from the 13th floor of the Hilton in Athens. It was Sunday around 17:00’ and according to him, he was a high rank executive of Novartis.

Finally, it was the police negotiator that talked him into rethinking it. The 44-year-old’s wife and mother were also there present.

When he was moved to the police station for a statement he “broke” and he started telling to the police officers that “they will not put onto me all the ‘sins’ of the company” arguing that he had been set up and that he was afraid for his life. He was apparently talking about the Novartis case.

It was confirmed that he is indeed a high rank executive of the company who was also transferred to the headquarters of the company in Switzerland.

The FBI and the Ministry of Justice of the USA are investigating the company. A few days ago, according to sources of Proto Thema, two company executives traveled to the US with their attorney Pavlos Sarakis to testify what they know about the case. They were placed under the Witness Protection Program.

Background of the Novartis case

The US authorities are investigating the multinational pharmaceutical company Novartis since August the 12th 2016 when a big Washington based law firm submitted a report that included the statements of two former company employees in Greece regarding unfair methods that the company uses to improve its position in the Greek market.

The two former employees testified to the US Securities and Exchange Commission. Their position gave them access to proofs on bribing of doctors, public servants, high rank officials and companies in order to get favorable decisions for Novartis and to have a greater share in the Greek market.

The two men have submitted hundreds of documents as well as the name of companies Novartis used in order to “launder” money.

The accusations against the company are that of bribing, insufficient internal auditing to find the illegal payments of doctors, officials, companies and media that criticize politicians whose decisions effected the company’s interests.
Click to expand...

Sounds scathing.
 






Greece steps up Novartis corruption probe after suicide attempt
Accelerates investigation into whether Novartis paid bribes to doctors and civil servants to drive sales
Novartis_building_body.jpg

A probe into alleged corruption by Novartis in Greece gathered pace this week after the attempted suicide of a company official on 1 January.

Greece's Justice Minister Stavos Kontonis has pledged to carry out a "swift and thorough" investigation into claims - bubbling away for a couple of months - that Novartis had paid bribes to Greek civil servants and doctors in order to encourage sales of its drugs in the domestic market.

The suicide attempt by a Novartis manager was thwarted by police but hit the front pages in Greece and raised pressure on the government to investigate, according to local media reports. The unnamed executive was one of 178 people due to be interviewed by police in connection with the case.

Greek prosecutors visited Novartis premises near Athens in order to gather evidence - with some reports suggesting US federal agents were assisting the investigation under the auspices of the US Foreign Corrupt Practices Act (FCPA).

For Novartis, the probe comes in the wake of fresh corruption allegations in the US, as well as Turkey and South Korea, and after the company settled allegations of kickbacks involving specialty pharmacy prescribing of two of its drugs in the US in 2015. Last year Novartis also paid $25m to settle US charges that it bribed officials in China in breach of the FCPA.

In a statement, Novartis said it is "cooperating with the demands of authorities both local and foreign [and] is committed to the highest standards in matters of ethical business conduct and regulatory compliance in all aspects of its business".

The statement added that the company "takes very seriously all allegations of misconduct".

Novartis is just one of a number of big pharma companies facing scrutiny over dubious promotion tactics for products, with cooperation growing between law enforcement and regulators in the US and overseas.

Just last month, Teva paid a whopping $519m to the US federal government - the largest ever imposed on a corporation - to settle a case relating to the promotion of its multiple sclerosis drug Copaxone in Russia, Ukraine and Mexico.

Also in 2016, GlaxoSmithKline agreed to pay a $20m penalty to settle charges that its China-based subsidiaries engaged in pay-to-prescribe schemes to increase sales, while AstraZeneca paid $5m to settle violations relating to improper payments made by subsidiaries in China and Russia to foreign officials.
 






Economic Prosecutor Launches Full Audit of Novartis Over Possible Tax Evasion
By
Kerry Kolasa-Sikiaridi

Jan 11, 2017
Economic prosecutor Panagiotis Athanasiou requested on Tuesday a full audit into the economic and tax reports of Swiss drug maker Novartis’ offices in Greece, as well of a number of senior executives, to investigate possible tax evasion and money laundering.

The investigation will cover the last decade and follows a separate investigation into alleged bribes paid by the company to doctors and government officials to promote its products.

Athanasiou ordered the opening of all bank accounts related to the company, as initial evidence suggests company executives are included in lists which contain the names of customers with large bank deposits, currently investigated by prosecutors.

A meeting earlier at Maximos Mansion, chaired by Prime Minister Alexis Tsipras, government ministers and other officials discussed efforts to fight corruption and ways to assist the ongoing probe into Novartis.
 






Credit Suisse Group Lowers Novartis AG (NVS) to Neutral
January 16th, 2017 - By Doug Wharley

Credit Suisse Group downgraded shares of Novartis AG (NYSE:NVS) from an outperform rating to a neutral rating in a research report report published on Wednesday.

A number of other research firms have also recently weighed in on NVS. Vetr cut shares of Novartis AG from a hold rating to a sell rating and set a $71.91 price target on the stock. in a report on Monday, January 9th. Deutsche Bank AG restated a neutral rating on shares of Novartis AG in a report on Monday, January 9th. J P Morgan Chase & Co cut shares of Novartis AG from an overweight rating to a neutral rating in a report on Tuesday, January 3rd. Zacks Investment Research upgraded shares of Novartis AG from a sell rating to a hold rating in a report on Tuesday, December 20th. Finally, Argus upgraded shares of Novartis AG from a hold rating to a buy rating and set a $85.00 price target on the stock in a report on Thursday, November 10th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock.
 












After FDA rejection, Novartis pulls Amgen biosim candidate from EMA
by Ben Adams |
Jan 27, 2017 7:23am

The move comes around half a year after the FDA sent a complete response letter for the biosimilar.

Back in the summer Novartis quietly announced that the FDA had rejected its application for a biosimilar version of blockbuster drug Neulasta (pegfilgrastim); today, any European reprieve was lost as the Swiss major yanked its application from the EMA after it couldn't show it actually worked, and failing on the manufacturing front.

In a brief update from the EMA’s drug approval arm, the CHMP, it said: “The application for a marketing authorisation for Zioxtenzo (pegfilgrastim) has been withdrawn. Zioxtenzo was developed as a biosimilar medicine to treat neutropenia in cancer patients.”

The EMA accepted the med for review nearly a year ago, but things have gone awry for Novartis on that front in the intervening 12 months.

In July, buried deep down in Novartis’ Q2 results, the company said: “Sandoz received a complete response letter from the FDA for biosimilar pegfilgrastim candidate (Neulasta). We are working with the agency to address remaining questions.” No further details, however, were given.

This problem was clearly bigger than first thought, given that six months down the line it has decided not to follow through on its EMA app. It’s not clear what prompted the CRL from the FDA, but the EMA gave more color as to what happened on its end.

“The application was withdrawn after the CHMP had evaluated the initial documentation provided by the company and formulated a list of questions," it said. "The company had not yet responded to the questions at the time of the withdrawal.”

Based on the review of the data the CHMP said it had two main concerns and was of the "provisional opinion that Zioxtenzo could not have been approved as a biosimilar of Neulasta."

One concern was that study results were not able to show that the concentrations of pegfilgrastim in blood were the same after taking Zioxtenzo and Neulasta.

The other was the lack of a certificate of Good Manufacturing Practice (GMP) for the medicine’s manufacturing site. An inspection of the site will therefore be needed before the medicine can be approved, it said.

The CHMP added: “At the time of the withdrawal, the company had not demonstrated that Zioxtenzo is highly similar to Neulasta and an inspection to confirm that it was being manufactured according to GMP standards had not yet taken place.”

In its letter notifying the agency of the withdrawal of the application, the company stated that it “would not be able to provide the additional data required by the CHMP within the timeframe allowed for the procedure.”

The biosimilar, coming out of its Sandoz unit, was seeking the same license as Amgen’s original med, a long-acting granulocyte colony stimulating factor, which is used to bolster white cells in patients undergoing chemotherapy for cancer. The drug has been one of Amgen's top-selling products, with around $5 billion in sales.

In a statement released in 2015, along with the FDA acceptance for a review, Sandoz said it had conducted three pivotal clinical trials on its biosimilar: one pharmacokinetic and pharmacodynamic study in healthy volunteers and two comparative efficacy and safety studies in breast cancer patients (PROTECT 1 and 2).

It said these “demonstrate that the proposed biosimilar is highly similar to the reference product.” Novartis has not commented on its decision.
 






Actavis, Sandoz Rigged Anesthetic Cream Prices, Union Says
By Dani Kass

Law360, New York (January 13, 2017, 6:35 PM EST) -- The International Union of Operating Engineers Local 30 Benefits Fund on Friday accused Impax Laboratories Inc., Sandoz Inc., Akorn Inc. and Actavis Holdco U.S. Inc. in Pennsylvania federal court of conspiring to raise the price of generic lidocaine-prilocaine, a numbing topical cream.
The putative class action on behalf of generic lidocaine-prilocaine buyers alleges the price of the cream had been stable for years until the drug companies attended a 2014 Generic Pharmaceutical Association meeting together. The price then spiked, reaching a high of nearly $1.20 per unit, up from less than 50 cents per unit, the suit states.

"Defendants' sudden and massive price increases represented a sharp departure from the previous years of low and stable prices," the complaint states. "This in itself is indicative of collusion."

Impax, Sandoz and its unit Fougera Pharmaceuticals Inc., and Akorn and its subsidiary Hi-Tech Pharmacal Co. Inc. each sell generic versions of the cream. Actavis sells the branded version, EMLA, through its subsidiary Warner Chilcott U.S. LLC, which the union counted a generic for the purposes of the suit.

Much of the suit relies on the Federal Trade Commission's attempts to stop mergers between the defendants, with the government warning the deals would create an anti-competitive generic lidocaine-prilocaine market.

When Sandoz's parent, Novartis AG, tried to buy Fougera in 2012, the FTC sued, saying there were only three real suppliers of the cream: Fougera, with 50 percent of the market; Hi-Tech, with 47 percent; and Novartis, with 3 percent, according to the union. The parties eventually settled the suit, with Novartis agreeing to end a marketing agreement relating to the cream.

Impax and Akorn started selling the generic cream in 2013.

The next year, the FTC stepped in again to block Akorn from buying Hi-Tech, alleging Akorn had 12 percent of the market and Hi-Tech had 62 percent. The drug companies agreed to divest part of their lidocaine-prilocaine businesses to Watson Pharmaceuticals Inc., which is now Actavis.

Friday's suit points to concerns made by Sen. Bernie Sanders, I-Vt., Rep. Elijah Cummings, D-Md., and others about generic drug pricing conspiracies for lidocaine-prilocaine and other medications.

The union also largely relies on subpoenas the U.S. Department of Justice has sent to several drug companies, including Impax, looking into conspiracies to fix generic drug prices.

That investigation led to its first criminal charges in December against two former top executives of Heritage Pharmaceuticals. A day later, 20 states filed a civil suit against Heritage and five other generic drug companies, including Mylan Pharmaceuticals Inc. and Teva Pharmaceuticals USA Inc., for anti-competitive behavior. More suits are expected to unfold this year.

Teva, which owns Actavis' generic business, declined to comment on the suit. Impax, Sandoz and Akorn didn't respond to request for comments Friday afternoon.
 




































To Lee Anne Torelli, who doesn't have a real "heart" as demonstrated by her history of protection and cover up of incompetent Novartis management that victimizes innocent employees and their families even to this day. You make the family proud!
 






Top Bottom
Back
Quote