Pharmaceutical Industry News

Novartis trims pipeline and boosts outlook.

Novartis is cutting around 10% of its pipeline after a comprehensive review of R&D projects during Q1 2023. The Swiss company will discontinue or out-license projects based on considerations like strategic fit, asset value, commercial potential, and competitive landscape. The move is part of CEO Vas Narasimhan's campaign to turn Novartis into a "pure-play" drugmaker.