CEO of Novartis said on Wednesday that the Swiss pharmaceutical giant does not plan to enter the “chaos” of weight loss drugs, preferring instead to focus on areas where it can create a “unique position.”
Speaking to CNBC, Vas Narasimhan said the company has been researching treatments that address the secondary effects of weight loss, but does not plan to compete directly with obesity drug manufacturers. Novo Nordisk again Eli Lilly.
“I think that following the chaos now would not be the right move for Novartis,” he told CNBC’s “Squawk Box Europe.”
“As we’re obese right now, we have two big players that are very focused, and I think for future entrants you have to find something new, some kind of new angle that reduces nausea and vomiting or gives patients the ability to lose weight again. keep their muscles,” he said, highlighting the work that exists in such areas within Novartis’ research labs.
Competition for obesity drugs has been increasing in recent months, with major players such as Roche again Pfizer market penetration, which is estimated to reach $200 billion within the next decade.
However, Narasimhan said his company is looking at areas “where we know we can win.” That includes treatments for diseases such as Alzheimer’s, Huntington’s and Parkinson’s, as well as various cancer treatments.
In particular, he said he saw a huge market opportunity among radioligand therapies (RLTs), cancer treatments that target cancer cells. So far, the company has bought two and launched two drugs locally.
“That’s an area where we think we can build a $20 billion business over time and hopefully create a unique position rather than chasing other markets,” he said.
“These are the places where I feel like we have the right to win,” he added.
His comments come after the company received approval on Tuesday from the US Food and Drug Administration for its Kisqali metastatic breast cancer drug to be used to treat patients with earlier stages of the disease.
Novartis shares were down 0.3% at 9:30 am London time on Wednesday, after opening the session briefly.