Novartis' Alcon unit set for Swiss/NYSE debut on April 9; Novo's keenly anticipated oral GLP-1 submitted for speedy US review
→ Novartis’ eye care business Alcon — being spun off by the Swiss drugmaker — will start trading on the Swiss market and NYSE on April 9. Alcon was purchased by former Novartis chairman Daniel Vasella for $51.6 billion, but the unit’s underwhelming performance had begun to weigh on Novartis $NVS, prompting newly approved chief Vas Narasimhan to make the decision to offload it last year.
→ On Wednesday, Novo Nordisk $NVO submitted a US marketing application for potential blockbuster oral GLP-1, semaglutide, a critical component of the Danish drugmaker’s long-term growth strategy. As promised, the world’s top diabetes drugmaker has used a priority voucher to hasten the FDA review process to six months, versus the standard ten. Separately, an NDA was submitted for oral semaglutide’ use in reducing CV risk in type 2 diabetics, but this application will be subject to the standard ten-month review.
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