Novartis Disbands Cell Therapy Unit; What’s Ahead For Kite, Juno? : barrons

referring to barrons

Novartis Disbands Cell Therapy Unit; What's Ahead For Kite, Juno?

Novartis Disbands Cell Therapy Unit; What's Ahead For Kite, Juno?




by the same token on bloomberg

Novartis Dissolves Its Cell Therapy Unit, Cutting 120 Positions

Novartis Dissolves Its Cell Therapy Unit, Cutting 120 Positions

Novartis AG said it will fold its specialized cell and gene therapies unit into other parts of the company, leading to about 120 job cuts months before seeking approval for a new type of cancer treatment.Cell and gene therapy development will no longer be housed in a separate division, the Basel, Switzerland-based company said Wednesday in an e-mailed statement.The change won't affect a plan to apply for U.S. approval early next year for a type of cell therapy, called a CAR-T, for children with an aggressive form of blood cancer, Novartis said.


coupled with investors

Novartis Closing Cell Therapy Unit; CAR-T Stocks Tumble

Novartis Closing Cell Therapy Unit; CAR-T Stocks Tumble

Swiss pharma giant Novartis (NVS) said Wednesday that it's shuttering its Cell & Gene Therapy unit, though it said it remains committed to its cancer-fighting CAR-T cell program.The market took this as a negative vote for the program, however, knocking down CAR-T-focused stocks Juno Therapeutics (JUNO), Bluebird Bio (BLUE) and Kite Pharma (KITE).The website Endpoint News first reported the Cell & Gene Therapy Unit's disbanding, saying that its activities will be integrated into the larger Novartis organization, but about 120 of the 400 positions there will be eliminated, including unit head Usman Azam.