Novartis will discontinue or out-license approximately 10% of the its pipeline, as the drugmaker continues its push to transform into a "pure-play” innovative medicines business.
Following a comprehensive review of R&D projects, Novartis will trim pipeline assets for strategic fit and commercial potential, the drugmaker shared in its most recent financial update. Going forward, Novartis will focus on ~136 projects in clinical development.
Per its focused strategy unveiled last year, the drugmaker seeks to drive R&D productivity by prioritizing high-value medicines across five core therapeutic areas — cardiovascular, immunology, neuroscience, solid tumors and hematology.
In other financial news, the drugmaker's 2023 sales were led by heart failure treatment Entresto and arthritis med Cosentyx.
Novartis said its Sandoz planned spin-off remains on track for the second half of 2023. After months of rumors, Novartis confirmed its intention to separate its generics and biosimilars division into a new publicly traded standalone company last August.
