Novartis offloads endocrine drugs to Recordati for $390M

诺华3.9亿美元预付款向意大利公司Recordati出售三种内分泌药物

2019-07-18 09:30:00 FiercePharma

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Novartis has been busy doing M&A to focus on higher-margin, innovative medicines under CEO Vas Narasimhan. Toward that goal, the Swiss drugmaker has taken another step and offloaded three endocrine drugs to Recordati. The drugs on the chopping board are Signifor, its long-acting sister Signifor LAR and in-development follow-up osilodrostat (LCI699). For the three of them, Novartis is getting $390 million upfront, with milestone payments tied to osilodrostat. These drugs are meant to treat Cushing’s disease and acromegaly, endocrine disorders marked by excessive production of hormones by the adrenal gland or pituitary gland. Cushing's disease is often caused by a benign pituitary tumor, so it’s grouped in Novartis’ oncology portfolio. Novartis was optimistic about Signifor LAR's prospects when the FDA approved it in 2014. At that time, the Swiss drugmaker was hoping it could help make up sales lost to Sandostatin copycats. But after years off-patent, the Sandostatin franchise in 2018 still turned in $1.59 billion in worldwide sales. And the majority came from Sandostatin LAR, which still faces no generic competition in the U.S. or the E.U. As for Signifor, it only sold $72 million last year, according to Recordati—a figure that was clearly too small for Novartis’ taste. While Signifor must be administered by a healthcare professional by intramuscular injection, phase 3 candidate osilodrostat is an oral drug that inhibits 11 beta-hydroxylase, an enzyme involved in cortisol synthesis. Italy’s Ricordati, which was recently picked up by private equity player CVC Capital Partners, thinks the drugs would fit well into its rare-disease portfolio. “These important additions to our product portfolio of treatments for severe rare diseases represent a key and historical milestone for Recordati,” the company’s CEO, Andrea Recordati, said in a statement. The deal represents a small sale for Novartis, which has been an active player on the M&A scene. As a seller, it recently jettisoned the Sandoz U.S. dermatology business and some generic drugs to India’s Aurobindo Pharma for $1 billion, returned its stake in a consumer health joint venture with GlaxoSmithKline, and spun off the eyecare business Alcon. At the same time, it has bought Takeda’s Xiidra eye drug in a deal potentially worth $5.3 billion and has doubled down on novel platforms, including gene and cell therapies and radiotherapies, all done under Narasimhan’s plan to focus Novartis as a “medicines company.”
诺华(Novartis)一直忙于并购,以关注首席执行官 Vas Narasimhan 领导的高利润、创新药物。为了实现这一目标,这家瑞士制药公司又迈出了一步,向 Recordati 卸下了三种内分泌药物。 切板上的药物是 Sigifor ,其长期代理姐妹 Sigifor LAR 和 in-develop 的后续西罗莫司他( LCI699)。其中三家公司,诺华(Novartis)公司获得了3.9亿美元的预付款,与西罗莫司他相关的里程碑付款。 这些药物是用来治疗库欣的疾病和肢端肥大,内分泌疾病的特点是肾上腺或垂体分泌过多的激素。库欣的病通常是由良性垂体肿瘤引起的,因此它被归为诺华(Novartis)的肿瘤组合。 诺华(Novartis)对 SigiforLAR 在2014年获得 FDA 批准后的前景持乐观态度。当时,这家瑞士制药公司希望能帮助弥补 Sandostatin 的仿制品销量下降。但经过多年的专利申请, Sandostatin 在2018年的全球销售额仍然达到15.9亿美元。大部分来自 Sandostatin LAR ,在美国或欧盟,该公司仍然没有面临仿制药的竞争。 Recordrdati 的数据显示,就 Sigifor 而言,该公司去年只卖出了7200万美元——这个数字显然太小,不适合诺华(Novartis)的口味。 虽然 Sigifor 必须由肌肉注射的保健专业人员来管理,但第3期候选西罗达是一种口服药物,可抑制11β-羟基酶,一种参与皮质醇合成的酶。 意大利的 Ricordati 最近被私人股本公司 CVC Capital Partners 收购,该公司认为,这些药物将很好地适应其罕见疾病的投资组合。“这些对我们产品组合中治疗严重罕见疾病的重要补充,是 Recordati 的一个关键和历史里程碑,”该公司首席执行官 Andrea Recordati 在一份声明中表示。 这笔交易代表了诺华(Novartis)的一笔小额出售,后者一直是并购领域的活跃参与者。作为卖家,该公司最近以10亿美元将 Sandoz 美国皮肤科业务和一些仿制药出售给印度 Aurobindo Pharma ,归还了与葛兰素史克( GlaxoSmithKline )的一家消费者健康合资企业的股权,并剥离了眼科业务爱尔康( Alcon )。与此同时,该公司还斥资53亿美元收购了武田公司( Takeda )的西地德拉( Xiidra )眼药,并在基因、细胞疗法和放射疗法等新平台上实现了翻番。这些平台都是在 Narasimhan 将诺华( Novartis )打造为“医药公司”的计划下完成的。

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