August 20, 2014 11:31 AM ET

Pharmaceuticals

Company Overview of Novartis Pharmaceuticals Corporation

Company Overview

Novartis Pharmaceuticals Corporation researches, develops, manufactures, and markets medicines and treatments for patients in the United States. It offers prescription drugs to treat various diseases and conditions, including cancer, cardiovascular, central nervous system, endocrine, inflammatory, ophthalmic, infectious, neurological, organ transplantation, psychiatric, respiratory, and skin diseases and conditions. The company also provides patient assistance programs. Novartis Pharmaceuticals Corporation was formerly known as Sandoz Pharmaceuticals Corporation and changed its name to Novartis Pharmaceuticals Corporation in March 1997. The company was incorporated in 1968 and is based in Ea...

One Health Plaza

East Hanover, NJ 07936-1080

United States

Founded in 1968

Phone:

973-781-8300

Fax:

973-781-8265

Key Executives for Novartis Pharmaceuticals Corporation

President
Chief Financial & Administrative Officer and Vice President
Chief Compliance Officer
Vice President
Vice President of Communications and US Country Head of Communications
Compensation as of Fiscal Year 2014.

Novartis Pharmaceuticals Corporation Key Developments

Sandoz Unveils Generic Version of Cystic Fibrosis Medication in US

Sandoz announced the US market introduction of tobramycin inhalation solution, USP, an authorized generic version of TOBI, currently marketed by Novartis Pharmaceuticals Corporation. Tobramycin inhalation solution, USP is indicated for the management of cystic fibrosis patients whose lungs contain bacteria called P. aeruginosa.

Novartis Pharmaceuticals Announces Executive Appointments

Novartis AG announced that Vas Narasimhan is appointed Global Head of Development, Novartis Pharmaceuticals, effective August 1, 2014. Narasimhan joined Novartis in 2005 and will succeed Tim Wright, who has decided to pursue opportunities outside the company and to spend more time with his family. Narasimhan has worked within the Pharmaceuticals and Vaccines businesses and has held the role of Global Head, Development, Novartis Vaccines. In addition, Eric Cornut is appointed Chief Ethics, Compliance and Policy Officer, effective August 1, 2014. Cornut will lead the Integrity & Compliance and Public Affairs functions at Novartis. He has held numerous leadership positions at Novartis, exposing him to many different stakeholder groups. His role as the Chief Commercial Officer at Novartis Pharmaceuticals, as well as previous positions at regional and country levels, have positioned him well to work in partnership with external stakeholders.

The U.S. District Court for the District of Minnesota Denies a Motion to Dismiss Failure to Warn and Punitive Damages Claims Brought Against Novartis Pharmaceuticals Corp

The U.S. District Court for the District of Minnesota denied a motion to dismiss failure to warn and punitive damages claims brought against a pharmaceutical company arising from injuries sustained by a consumer of the firm's bisphosphonate medication. On June 13, 2000, 51-year-old Candice Kruszka was hospitalized with severe back and hip pain, and was diagnosed with multiple myeloma, a blood cancer, resulting in hypercalcemia, a compression fracture in her spine, and brittle bones. Her physician immediately prescribed Aredia, a bisphosphonate medication produced by Novartis Pharmaceuticals Corp., and recognized to extend life, reduce skeletal complications and reduce pain for patients with multiple myeloma. In 2001, Kruszka was scheduled to undergo a stem cell transplant. Prior to the surgery, an oral surgeon noted periodontal disease. After the transplant, Kruszka was diagnosed with osteonecrosis of the jaw (ONJ). Kruszka later sued Novartis, alleging failure to warn and related claims. The complaint alleged that, despite being aware of an association between bisphosphonate use and ONJ at the time she was prescribed Aredia, Novartis only began providing related warnings in its Food and Drug Administration-approved labeling in September 2003. Novartis moved to dismiss. The district court denied Novartis' motion with respect to Kruszka's failure to warn and punitive damages claims. The complaint was sufficient to raise a fact issue as to whether Novartis, at the time Kruszka was taking Aredia, was aware of the risks of bisphosphontes, when Novartis knew or should have known about those risks and whether the company adequately conveyed those risks to physicians. The complaint presented a 1981 study involving rats that showed a connection between bisphosphontes and ONJ, as well as six cases of ONJ that were allegedly reported to Novartis during Aredia's clinical trials. The plaintiffs also pointed to evidence that doctors presented information regarding a possible connection between bisphosphonates and ONJ to Novartis and that Novartis employed a strategy with its label changes that indicated the firm know of those issues. The court held that, viewed in the light most favorable to the nonmoving party, Kruszka's pleadings were sufficient to raise a fact issue as to whether Novartis intentionally or recklessly disregarded facts relating to the ONJ issue that created a high probability of injury to the safety of others. Accordingly, the district court denied Novartis' motion to dismiss Kruszka's claim for punitive damages. The district court separately granted dismissal of Kruszka's claims for design defect and breach of implied warranty and duly issued an order incorporating the court's rulings.

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