Novartis plans the first human tests next year of a "smart" contact lens it is developing with Google designed to help restore the eye's natural autofocus.
"This project is progressing well," Novartis Chief Executive Joe Jimenez told Swiss newspaper Le Temps in an interview.
"I had said it would take about five years to see a product on the market," Jimenez told the paper. "The calendar is on track and we are already developing a technological lens prototype (that) should be tested on humans in 2016."
A Novartis spokesman told Reuters that Jimenez was referring to a smart lens for accommodative vision correction in people with presbyopia, or age-related long sightedness, who can no longer read without glasses.
Under an agreement signed with Google in 2014, Novartis is also developing smart contact lenses to help diabetics track their blood glucose levels.
Jimenez also discussed Novartis' efforts to test a novel pay-for-performance pricing model with some customers for its new heart failure drug Entresto.
Earlier this year, Novartis said it was pursuing a system under which customers would get the drug at a discount but then pay Novartis more if it cut the need for costly hospital visits.
Jimenez indicated the plan has encountered headwinds.
"In the United States, we proposed to insurers a differentiated price calculated according to length of stay," Jimenez said. "Few insurers entered in the field. They told us that the system was too complicated."
Novartis finally established the price at around $4,500 per year, he said.
The CEO, a former executive at Reddiwip-maker ConAgra Foods who joined Novartis in 2007, also said the company expects its generics business Sandoz "will always be large enough to be competitive worldwide" without joining a consolidation trend.
Israeli generics rival Teva agreed to buy Allergan's generics unit in July for more than $40 billion.
"There is no project on our side to participate in this consolidation trend because we cannot ensure this growth," Jimenez said.
Novartis, which owns a one-third voting stake in pharmaceuticals rival Roche, has trade agreements with Roche on two drugs and Jimenez said he can imagine research and development collaborations, as well.
"But the opportunity hasn't presented itself yet," he said.
Reuters
Sun Sep 06 2015
Under an agreement signed with Google in 2014, Novartis is also developing smart contact lenses to help diabetics track their blood glucose levels.
Berita tempatan pilihan sepanjang hari ini
Berikut adalah berita yang paling menjadi tumpuan sepanjang Khamis, 28 Mac 2024.
Berita antarabangsa pilihan sepanjang hari ini
Antara pelbagai berita luar negara yang disiarkan di Astro AWANI, berikut adalah antara yang paling menjadi tumpuan sepanjang hari ini.
Lebih 70,000 peserta FELCRA sudah terima dividen bernilai RM74 juta
FELCRA Berhad sudah mengagihkan bayaran dividen kepada lebih 70,000 peserta di seluruh negara bernilai RM74 juta bagi musim ketiga tahun lalu.
KPDN Sabah terima 67 serahan kes dengan nilai rampasan lebih RM2 juta
Kementerian Perdagangan Dalam Negeri dan Kos Sara Hidup (KPDN) Sabah menerima 67 serahan kes daripada agensi penguat kuasa lain dengan nilai rampasan RM2.01 juta sejak Januari lalu hingga hari ini.
Lapan pendatang tanpa izin dihukum penjara enam bulan di Kelantan
Lapan individu dihukum penjara enam bulan selepas mengaku bersalah di Mahkamah Sesyen Khas bagi Pendatang Asing Tanpa Izin di Tanah Merah semalam.
Lebih banyak kolaborasi bidang TVET antara Malaysia dan China - Ahmad Zahid
Malaysia dan China akan mengadakan lebih banyak kolaborasi dalam Pendidikan dan Latihan Teknikal dan Vokasional (TVET) bagi memperkasa bidang itu.
KPDN Kelantan sita 34,871 liter minyak diesel di Kuala Krai
Kementerian Perdagangan Dalam Negeri dan Kos Sara Hidup (KPDN) Kelantan menyita kira-kira 34,871 liter minyak diesel bernilai lebih RM74,900 di sebuah premis perniagaan di Kuala Krai, semalam.
Baki stok simpanan air di empat empangan pada paras kritikal - NADMA
Empat empangan air di Johor, Pulau Pinang dan Kedah menunjukkan penurunan paras simpanan sumber air mentah pada paras kritikal setakat semalam susulan cuaca panas.
Pesawat Maritim Malaysia bantu padam kebakaran di Miri
Maritim Malaysia telah mengatur gerak pesawat Bombardier CL-415 miliknya, bagi membantu dalam operasi memadamkan kebakaran hutan tanah gambut secara bersepadu.
Polis tahan lelaki bakar mercun di tengah jalan raya
Polis menahan seorang pembantu bengkel yang disyaki membakar mercun di tengah jalan raya, ketika perarakan pengebumian berdekatan sebuah pasar raya di Banting, Selangor, semalam.