ARTICLE | Company News
Novartis reports first Kymriah sales, Cosentyx miss
April 19, 2018 9:45 PM UTC
Novartis AG (NYSE:NVS; SIX:NOVN) reported $580 million in 1Q18 sales of autoimmune drug Cosentyx secukinumab, shy of analysts' $635 million consensus estimate. The pharma also reported for the first time sales of CAR T therapy Kymriah tisagenlecleucel, which came in at $12 million in 1Q.
On a conference call Thursday, Novartis CEO Vasant Narasimhan said the variability in Cosentyx sales was due to inventory de-stocking at U.S. specialty pharmas. The company also cited rebates for enhanced access to earlier lines of therapy as a factor...
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