Novartis sells $2.1B in bonds to increase access to its drugs in disadvantaged countries

Swiss pharma giant Novartis recently garnered about $2.1 billion from investors by selling bonds linked to its promises to make its treatments more accessible in lower-income countries, according to STAT.

The drugmaker said in a Sept. 16 news release that its goal is to expand the number of patients who receive its drugs by at least 200 percent by 2025. It also aims to boost an initiative to reach patients with leprosy, malaria, sickle cell disease and Chagas disease, with the goal of reaching 23 million patients by 2025.

Should Novartis fail to accomplish its access and sustainability goals, investors will receive higher interest payments. The drugmaker plans to release annual progress reports on its efforts.

Novartis’ bond sales come six months after Pfizer sold $1.25 billion worth of 10-year bonds tied to access and sustainability improvements.

More articles on pharmacy:
FDA to announce stricter rules on emergency use authorization for COVID-19 vaccine
OptumRx’s 3 recently approved drugs to watch
J&J single-dose COVID-19 vaccine becomes 4th US candidate to enter late-stage testing

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.