(Reuters) – Novartis hopes to still play a role in the development of COVID-19 treatments with research ongoing for a pill that could work broadly against coronaviruses, not just the one that causes COVID-19, chief executive Vas Narasimhan told Reuters.In an interview following his recent presentation at Total Health last week, the head of the Swiss drugmaker pointed to Novartis’ manufacturing support to COVID-19 vaccine and drug makers when asked if it had been on the sidelines during the pandemic.webmd.ads2.defineAd({id:’ads-pos-1122′,pos: 1122});”Now I would have loved for some of our own clinical trials to have worked out, but they didn’t. I mean, that’s part of the deal,” Narasimhan said.”I think we as a sector have collaborated extremely well to ultimately be the industry that enabled this pandemic over time to eventually be under control.”
webmd.ads2.defineAd({id:’ads-pos-520′,pos: 520});Many drugmakers including AstraZeneca sold treatments at cost during the pandemic, but are now looking to start making profits as some parts of the world reopen.
webmd.ads2.defineAd({id:’ads-pos-1520′,pos: 1520});”I think in order to have companies invest in the long run for pandemic preparedness, there has to be a reasonable economic benefit to the companies,” Narasimhan said. “I think that has to be clear and understood by all involved.”Novartis last year had signed a deal with Molecular Partners to develop two DARPin-based therapies as potential COVID-19 treatments.A new readout from studies of one of those treatments is expected in January, and the duo will then decide on next steps based on that data, Narasimhan said.
webmd.ads2.defineAd({id:’ads-pos-141′,pos: 141});The company last week said it was confident of delivering annual revenue growth of 4% or higher until 2026, as it banks on multi-billion dollar sales of experimental and approved drugs including arthritis and psoriasis medicine Cosentyx.
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