Novartis Q2 results highlight performance of UK drug sales

Novartis has unveiled the financial results of its second quarter, highlighting the performance of many drugs sold in the UK.

Overall net income was “heavily impacted” by expenditure relating to the acquisition of Chiron, but excluding this, net income increased by 23 per cent during the quarter.

The Swiss pharmaceutical company said Visudyne, its treatment for age-related macular degeneration, had been affected by off-label competition but that it had performed “particularly” well in the UK.

Similarly, Xolair, the treatment for severe allergic asthma, had performed well since its October 2005 launch in the UK and other EU countries. Additionally, the company said its gout pain drug, Prexige would be expanded to other EU countries since its UK launch and following successful safety trials. Cubicin, the Chiron antibiotic, will also be launched in other countries following introductions in the UK, Germany and the Netherlands.

Dr Daniel Vasella, chairman and chief executive of Novartis, stated: “I am pleased with our strong performance in the first half of 2006.

“Productivity gains in the second quarter were strong as we prepare for the launch of several potential blockbusters for the treatment of patients with type two diabetes, hypertension, asthma and eye diseases.”

“Led by our strategy and our commitment to innovation, I am confident that Novartis will continue to grow strongly and achieve another year of record sales and earnings,” he concluded.

Novartis is currently in negotiations to acquire NeuTec, the Manchester-based biopharmaceutical company. It has two drugs in late-stage development: an antifungal called Mycograb 1 and an antibacterial, Aurograb 1, designed to target staphylococcus aureus – the bacteria responsible for MRSA.

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