Novartis is a biotechnology and pharmaceuticals company with an excellent reputation in developing first class Rx pharmaceuticals. Founded in 1996, the company develops a huge arrangement of products from generic drugs, over-the-counter drugs, diagnostics, contact lenses, animal health, vaccines, and the list goes on. The companies headquarters, like competitor Roche, is found in Basel, Switzerland. Reported total assets as of 2015 were at $131.55 billion USD.
Novartis has three well-developed, rapidly expanding research centers in Basel, Shanghai, and Boston. Increased revenues in each of these regions has helped propel the company as one of the best biotech investment opportunities of the last several quarters. Since the company has come into the field, Novartis as created for itself a superb portfolio of fast growing medicines, leading the industry with thirteen new drugs approved between 2000 and 2004.
On top of the thirteen current drugs, Novartis also has seven drugs in current registration. Known as both the second-largest maker of generic drugs in the world, and the second-largest biotechnology company in the world, Novartis is known as a market leader in reference to sales. Most of the analysis from tech investor news outlets has shown a supportive outlook for the stock into next year.
While known positively for these things, the company also has created a bad side for its name as well and this has created some cautionary concerns for money market investors. In one case, Novartis was part of a narrow legal battle between the drug company and the government of India over an expensive cancer drug known as Gleevec in the US. Novartis challenged India’s denial of patent protection for the drug. Along with this occurrence, the FDA has also charged the company with unethical advertising practices. This is something that should be considered by anyone looking to get started investing in biotech. In another occurrence, Novartis was charged and fined by US district court of practicing sexual discrimination against twelve female sales reps which further ruined the image of the company.
Perhaps one of the worst cases of political malpractice, Novartis was charged by the US federal prosecutor for paying illegal kickbacks to healthcare professionals, attacking the name with a glimpse of corruption and perhaps giving the company a certain stigma about its practices.
Article contributed by Biotech Stocks US.