Novartis CEO Vas Narasimhan stressed that patients as well as investors will value drugmakers that focus on cures instead of treatments, CNBC reported.
"We're getting into gene therapies and cell therapies that could cure patients of disease, and my belief is there are a lot of diseases we could tackle with these technologies and really provide cures," Narasimhan stated.
"What we're really finding out is that society wants that and that, ultimately, they will value it," the CEO said, continuing "my conviction is that we'll figure out the payment systems. We'll figure out those challenges."
To expand its presence in the cancer market, Novartis has acquired Advanced Accelerator Applications for $3.9 billion and Endocyte for $2.1 billion over the last two years.
"What we do is we take a drug that's really specific to a cancer and we link it to a radioactive particle that's very controlled and we take it to the cancer and we kill the cancer," Narasimhan explained, adding "and that's worked really well in…neuroendocrine tumours. We think it could work in prostate cancer. Frankly, we think it could work in many other solid tumour types."
Novartis is scheduled to unveil its fourth-quarter earnings on January 30.
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