Novartis Pharmaceuticals

Money Moves

Incumbent competitor in CML market with Scemblix

Keytruda, the world's best-selling drug, generated $31.7 billion for Merck in 2025 — roughly 40% of the company's total revenue. Its key U.S. patents expire in 2028, and when they do, cheaper copies will enter the market and that revenue will begin to evaporate. Merck has now spent over $25 billion on three acquisitions in nine months to build the portfolio that will need to replace it.

Updated Mar 25

Money Moves

Competitor; developing oral BTK inhibitor for food allergy

For decades, the 27 million American adults and children with food allergies had one option: avoid the allergen and carry an EpiPen. That changed in February 2024 when the FDA approved Xolair as the first drug to reduce allergic reactions—including anaphylaxis—from accidental exposure to multiple foods. Now GSK has paid $2.2 billion for RAPT Therapeutics and its experimental antibody ozureprubart, betting it can build a better version with once-quarterly dosing instead of Xolair's every-two-to-four-week schedule.

Updated Jan 20

New Capabilities

Manufacturer of Kymriah, first FDA-approved CAR-T therapy

Gene therapy killed Jesse Gelsinger in 1999. His death triggered FDA shutdowns, lawsuits, and nearly ended the field. Fast forward to December 2025: British scientists published results showing that base-edited immune cells—a 'living drug'—achieved deep remissions in 82% of children with previously incurable T-cell leukemia. Three years after treatment, 64% remain disease-free. Some patients are off treatment entirely.

Updated Jan 9