No­var­tis takes a $200M hit to write off a flop as ex­ecs spell out a cau­tious R&D strat­e­gy

With its top line locked in­to a hold­ing pat­tern as its sales teams strug­gle to ex­pand fran­chise rev­enue, No­var­tis has out­lined its near-term R&D strat­e­gy, tak­ing a $200 mil­lion hit to write off the dis­ap­point­ing heart drug sere­lax­in (RLX030) while look­ing be­yond a de­ci­sion lat­er in the year on its pi­o­neer­ing CAR-T drug as it shoots for new FDA fil­ings.

The phar­ma gi­ant said re­cent­ly that it has wrapped its ini­tial FDA ap­pli­ca­tion for CTL019. And in a new note out from Biren Amin the Jef­feries an­a­lyst pre­dicts that we’ll be see­ing the close­ly-watched fol­lowup da­ta from the JULI­ET study at the In­ter­na­tion­al Con­fer­ence on Ma­lig­nant Lym­phoma on June 14 in Lugano, Switzer­land.

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