Novartis could cut drug development by a year

piggy submitted, created time 1 month 2 weeks (www.reuters.com)

A new way of conducting clinical trials could allow Novartis AG to cut the time needed to develop some drugs by a year, the Swiss drug maker's designated development head said on Wednesday.

The new approach, which uses disease models to predict measurable markers and responses, could apply in areas like oncology and genetic diseases and allow mid-stage trials to be shortened or even, in some cases, omitted completely.

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Novartis' profit drops 69%; 550 job cuts planned

sea-maid submitted, created time 2 months 2 weeks (www.fdanews.com)

Swiss drug giant Novartis said Monday that its third-quarter profit dropped 69%, as expenses to buy a stake in eye-care specialist Alcon, higher taxes and last year's gains from selling its Gerber and medical-nutrition business offset growing sales of its cancer and heart drugs.

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