Summertime Sales from Novartis

Summertime Sales from Novartis

It’s been a busy summer for Novartis AG (NYSE: NVS). The Swiss drug-maker has sold off a few assets, one at a loss. On August 31, Mylan NV (NYSE: MYL) acknowledged that it paid $463 million for Novartis’ cystic fibrosis products. Novartis sold the worldwide rights to commercialize its cystic fibrosis products TOBI Podhaler (tobramycin inhalation powder) and TOBI (tobramycin solution for inhalation). Mylan expects to pay $240 million this year, with the rest coming later. Then on September 6, Novartis announced the sale of certain assets in its Sandoz U.S. portfolio,  specifically the Sandoz dermatology business and generic oral solids portfolio. It comprises approximately 300... Read More »