Novartis’ ophthalmology strategy has been a series of failures:
1) 2019, Xiidra, acquired from Shire for $5bn, currently selling: ~400m a year
2) 2021, GT005 (gene therapy, phase 2 at that time), acquired from Gyroscope, currently selling: 0
3) 2020, preclinical gene therapy asset, acquired from Vedere Bio (made a lot of people rich) for 450m, currently selling: 0
4) 2021, preclinical gene therapy asset, acquired from Arctos Medical (made a lot of people rich again) for ??? (Prob 500m), currently selling: 0
So why is Novartis selling Ophtha for what it thinks can be up to $5bn? My guess is that they are trying to recoup the loss it has incurred from buying all these assets at significantly overvalued price tag. So fast forward 2 years from 2021 to 2023, OPHTH is NOT a strategic focus anymore. I’m not a shareholder of Novartis but if I were I’d hold the board accountable.
They prob dropped the price and thats why the article is out again. Second time a Bloomberg article is out detailing potential sale. They are selling just not sure if anyone is buying.Same old news. Not a surprise. What’s everyone thinking as far as who’s buying us? How much truth to this article?
They prob dropped the price and thats why the article is out again. Second time a Bloomberg article is out detailing potential sale. They are selling just not sure if anyone is buying.
Because they don't wanna deal with the headaches of getting a drug that supposedly has great coverage but is constantly having issues getting to the patient.Really, I had to beg my doc for Xiidra, because I get it free working for Novartis. She basically told me it doesn’t work and I should be on Restasis, even though I’ve already failed that one. She agreed to let me try Xiidra and Im doing very well.
Xiidra and eye care has been one issue after another. Its no wonder why they want out. They've screwed it up beyond repair. Wait till next year when there are 4 more products on the market and 16 different generics. Not to mention the push of device treatment that actually puts money in doctors pockets.I guess Leqvio isn’t the only drug with this issue.
And what does that tell you? Eyecare is the place to be!!Probably crickets because they are toooo busy looking for jobs..Says a lot when TS left and went to MS…seems as though HQ is all moving to different therapeutic areas.
just think about how fast this division has turned to poop. Such a shame it had a lot of great people and a bright future until all the dominos started to fall. Question is how long until Novartis drops it to fair market value and sells. Either that or they reduce headcount.And what does that tell you? Eyecare is the place to be!!
We are essential!Clearly they are trying to sell eye care. If not then why not release a PR statement refuting the media buzz about it. When customers start asking reps what's going on and are concerned the company should step up and address the "rumors" publicly. They're not doing that because they are indeed trying to sell of this shit show. The question is what is the outcome if they sell or don't sell? Will the upcoming state of the union finally address anything or is Tad just going to enlighten us all with more sentiments about how much we matter and what we do every day makes a difference?
We are essential!
Translated = we are trying to sell you guys but nobody wants to buy you yet. Well lower the price soon dont worry.Ophtha isn't a priority and gets no resources (MSLs, TLLs etc) but remember we are essential. We keep the lights on and pay the bills for all the other things Novartis does care about. They are using and abusing us with all these metrics. I think they're trying to run people out so it's less severance to pay when the time comes.
Probably crickets because they are toooo busy looking for jobs..Says a lot when TS left and went to MS…seems as though HQ is all moving to different therapeutic areas.
It does say A LOT HQ people moving to other therapeutic brands…clearly they all know yet leave us field reps with nothing. Thats not transparency to me. And having Ken Jeoung out at ASCRS…publicly stunt much to get the “buzz about Xiidra so someone finally buys it? “
CricketsName buyers that have the cash and are interested in ophthalmology!
