Novartis is flashing warning signs about the fate of its newly acquired myelofibrosis drug

CHICAGO — Something is off about the way Novartis is talking about pelabresib, its newly acquired and costly treatment for myelofibrosis. I suspect the Swiss pharma giant’s previously stated plan to submit a marketing application to the Food and Drug Administration this year has been blocked.

I’m not just speculating wildly. It’s looking increasingly likely that the $3 billion purchase of MorphoSys to acquire pelabresib — a deal pushed hard by top Novartis executive strategist Ronny Gal over some internal dissent — has run into serious trouble just days after the closing.

On Sunday evening, Novartis Chief Medical Officer Shreeram Aradhye, speaking at the company’s ASCO investor event here in Chicago, offered this response to an analyst who asked about pelabresib.

STAT+ Exclusive Story

Already have an account? Log in

This article is exclusive to STAT+ subscribers

Unlock this article — plus in-depth analysis, newsletters, premium events, and news alerts.

Already have an account? Log in

Individual plans

Group plans

Monthly

$39

Totals $468 per year

$39/month Get Started

Totals $468 per year

Starter

$30

for 3 months, then $399/year

$30 for 3 months Get Started

Then $399/year

Annual

$399

Save 15%

$399/year Get Started

Save 15%

11+ Users

Custom

Savings start at 25%!

Request A Quote Request A Quote

Savings start at 25%!

2-10 Users

$300

Annually per user

$300/year Get Started

$300 Annually per user

View All Plans

To read the rest of this story subscribe to STAT+.

Subscribe

Log In