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Novartis and Xencor enter into bispecific antibody agreement

Novartis has received rights with Xencor to develop bispecific antibodies for treating cancer. “Under the terms of the agreement, Xencor is receiving a $150 million upfront payment from Novartis and the two companies will equally share the cost to jointly develop two Xencor antibodies targeting the CD3 domain,” Novartis said. Novartis would additionally receive rights to develop and commercialize four further bispecific antibodies and to use Xencor's antibody technology in up to 10 additional molecules, the companies said.

Novartis buys another 2.5 percent in Israel’s Gamida Cell

Swiss drugmaker Novartis will invest up to an extra $15 million in Gamida Cell, an Israeli developer of stem cell therapies, Gamida said on Sunday. Novartis last year invested $35 million in the company for a 15 percent stake, in a deal that could reach $600 million if Novartis exercises a buyout option that expires in 2016. The $15 million investment will be used to advance Gamida Cell's clinical programs, including the development of NiCord, an experimental treatment for patients with high risk hematological malignancies, or blood cancers such as leukemia and lymphoma and sickle cell disease.

Novartis hit by China, emerging market slowdown: CEO on CNBC

Drugmaker Novartis has been hit by a slowdown in emerging markets, particularly in China, where previously double-digit growth has decelerated to mid-single digits, Chief Executive Joe Jimenez said in an interview with CNBC on Friday. Jimenez' comments echoed concerns expressed on Thursday by U.S. Federal Reserve Chair Janet Yellen, who said the outlook in emerging markets including China have led to volatility. Despite the increasing risks, Jimenez said the Swiss company was not pulling back from emerging markets, rather relying on the strength of generics in China to drive business growth.

Novartis to start human tests with Google lens in 2016

Novartis plans the first human tests next year of a “smart” contact lens it is developing with Google designed to help restore the eye's natural autofocus. “This project is progressing well,” Novartis Chief Executive Joe Jimenez told Swiss newspaper Le Temps in an interview. “I had said it would take about five years to see a product on the market,” Jimenez told the paper.