Novartis enters partnership with Evotec

Novartis and Evotec have entered a drug discovery collaboration.

The partnership will see the development of novel small molecule therapeutics for an initial period of three years.

As a result of the alliance, Evotec’s powerful drug discovery platform, along with its disease biology specialism, will be used to advance drug discovery against a target nominated by Novartis.

The company adds the agreement may be expanded through a second programme.

Novartis’ payments for the collaboration could exceed $28 million (18.7 million pounds), along with additional payments of any resulting marketed products.

In other news, Novartis and Mylan have announced a settlement agreement, regarding Letrozole Tablets – a generic version of Femara.

Under the deal, Mylan has been provided a patent license that will enable the company to market the product, prior to the expiry of its US patent.

Speaking at the time, vice-chairman and chief executive officer of the organisation, said: “We are very pleased to have reached this agreement, which demonstrates our ability to once again bring to market high quality, affordable medications for the patients who need them the most.”

Based in Basel, Switzerland, Novartis currently employs 100,000 people and operates in 140 countries.