Novartis closing cell/gene therapy unit

Novartis AG (NYSE:NVS; SIX:NOVN) is dissolving its Cell and Gene Therapies Unit and re-integrating the unit's activities into its larger organization. The pharma said its recently announced integrated development model means the stand-alone unit, which was created in 2014, no longer made sense.

In May, Novartis said it would split its pharmaceuticals division into two new units, Novartis Pharmaceuticals and Novartis Oncology, which together form Novartis' new Innovative Medicines division. Novartis Oncology includes cancer programs as well as cell and gene therapies (see BioCentury, May 23). ...