Novartis raffles Covid and obtains a profit of 6,653 million in 2020, 13% more

The pandemic did not dampen Novartis’ results. The Swiss pharmaceutical company obtained a profit of 6,653 million euros in 2020, which represents 13% more than it registered in the previous year. Total sales amounted to $ 47.8 billion (5% more than in 2019), boosted by its drugs Entresto (heart failure), Cosentyx (psoriasis) and Zolgensma (muscular muscle atrophy). The company’s shares were down about 3% as the numbers rolled in.

The heart failure drug has become an essential asset of the company in its sales. The important thing, in addition to the numbers (716 million in a year) is that they are only figures from the United States, practically. In Europe, the drug was not approved until November 5, 2020. Also, Cosentyx, the company’s blockbuster last year, got a fourth indication for Europe last year, so sales capacity could be higher by 2021.

Despite the positive numbers, the coronavirus has made a dent in one of the company’s most promising areas: oncology. Although the data is positive because the majority of products obtained higher sales than last year (in total the area grows 3%), the lack of diagnosis that has been experienced in 2020 has prevented it from obtaining the expected revenues. The rates of biopsies and surgeries are only maintained in melanoma, being reduced in lung and breast. In fact, the general oncology market fell by 20% between the last quarter of 2019 and the last of 2020. To this problem must also be added the appearance of generic drugs, which are competing for the market.

Kimriah, an antitumor cell therapy that is one of the company’s great advances, had sales of $ 141 million, meaning it increased its revenue by 42%. However, in the ranking of sales measured by growth, it was the eighth drug of the group. Similarly, Kisqali (breast cancer) also managed to grow in sales by 18% to 141 million. Both drugs were released in Spain between 2018 and 2019, so they still have a lot of room for improvement.

Dermatology and ophthalmology were the areas most affected by the pandemic, according to the company. One of the reasons was the spring lockdowns coupled with the various restrictions that have been taken in different parts of the world. The company explains that despite the market downturn, “our operations remain stable and cash receipts continue to be in accordance with our normal commercial terms, with sales on days pending at normal levels.”

Another chapter that is weighing down pharmaceutical companies in general during this pandemic year is the research and development of new drugs, due to pressure from Covid. Novartis, however, assures that in his case it is not having too much incidence. “Today, drug development operations continue with manageable disruptions. Our range of digital technologies allow us to proactively manage our portfolio of clinical trials and rapidly mitigate any disruptions,” they say.

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