Novartis, a Swiss, multinational pharmaceutical company, announced on Thursday a new initiative to help patients in low-income and lower-middle-income countries (LIC; LMIC) to access affordable medicines to treat the major symptoms of COVID-19.
The company said that inflammation and respiratory problems linked to COVID-19 can cause severe medical complications and can lead to death in some people, putting immense strain on fragile healthcare systems.
The Novartis COVID-19 portfolio includes 15 medicines from its Sandoz division for gastro-intestinal illness, acute respiratory symptoms, pneumonia as well as septic shock. The medicines were chosen based on clinical relevance and availability to ensure demand can be met globally.
The medicines will be made available to governments, Non-Governmental Organisations (NGOs) and other institutional customers in up to 79 eligible countries at zero-profit to support financially-strained healthcare systems. Countries will have the flexibility to select the medicines in the portfolio that meet their healthcare needs. Eligible countries must be included on the World Bank's list of LICs & LMICs1.
Dr Lutz Hegemann, chief operating officer for Global Health at Novartis, said, 'Access to medicine can be a challenge for patients in low- and lower-middle-income countries and the situation has worsened during COVID-19. With our COVID-19 portfolio, we wish to help address the additional healthcare demands of the pandemic in the countries we are targeting.'
CVS Health declares unchanged quarterly dividend
ALK partners with GenSci to expand allergy immunotherapy market in China
Curatis secures Swiss distribution deal with Phoenix Labs
Innocan Pharma reports 'positive swing' in operating profitability for first half of 2025
Wolters Kluwer boosts medical research efficiency with Ovid AI summarisation
European Commission approves Gilead's twice-yearly HIV prevention injection Yeytuo
Essa Pharma clarifies Nasdaq due bill trading period for cash distribution
Advanz Pharma and Alvotech secure European approval for aflibercept biosimilar Mynzepli
Heron Therapeutics announces tax benefits preservation plan adoption
Essa Pharma sets ex-dividend date and due bill trading for USD80m capital return
BioDlink's bevacizumab injection secures Colombia and Pakistan marketing authorisation
GSK to receive USD370m and future royalties in CureVac/BioNTech settlement
Everest Medicines expands I-MAB investment
Perrigo Announces Quarterly Dividend
Ridgetech reports net income of USD10.20m in fiscal year 2025