Novartis Braces for Biosimilar Pressure in Radiopharma While Advancing a 46-Abstract MS Offensive
Published on 10/10/2026 at 16:21 | Editorial boerse-global.de
A cut-price challenger has arrived in one of Novartis's most sheltered franchises. Curium has launched a biosimilar version of the radiopharmaceutical Lutathera at 63,524 US dollars per infusion — roughly 5 percent below the Swiss group's own preparation. The move matters because nuclear medicine therapies had until now been largely insulated from the rapid price erosion that generic rivals typically inflict. A direct competitor entering with a discount signals a tangible shift in that competitive landscape.
The oncology segment is not the only front where Novartis is managing change. On Wednesday the Basel-based company unveiled plans for a broad showing at the MSToronto2026 specialist congress, where it intends to present 46 scientific contributions drawn from its multiple sclerosis portfolio. Late-stage readouts from the registration-relevant Phase III trials REMODEL-1 and REMODEL-2, evaluating the candidate remibrutinib, form the centerpiece of that program. Novartis has also scheduled a separate virtual investor event to walk through the new data.
Remibrutinib's Expanding Footprint
Those REMODEL analyses represent a significant step for the company's neurology pipeline. Remibrutinib already holds US Food and Drug Administration approval under the brand name Rhapsido for adults with symptomatic dermographism whose symptoms are not adequately controlled by H1 antihistamines — a clearance that stretched the drug's use beyond chronic spontaneous urticaria. According to the company, those two conditions together account for the overwhelming majority of chronic hives cases in adults. With the multiple sclerosis data, Novartis is now targeting an additional large indication.
The clinical case rests on more than one trial. In the Phase III RemIND study, 29.3 percent of treated patients saw their wheals resolve completely, compared with just 14.0 percent in the placebo arm. Therapeutic effect appeared early in the treatment course. Reported side effects included inflammation of the nasopharynx, bleeding, and headache and abdominal pain. Beyond dermatology, the molecule has delivered positive Phase III results in relapsing multiple sclerosis, and studies in food allergies and hidradenitis suppurativa are under way.
Should investors sell immediately? Or is it worth buying Novartis?
While its own trials progress, Novartis moved earlier this month to bolster its autoimmune development pipeline through external partnerships. On October 2 the group struck a global licensing and option agreement with Abogen Biosciences covering the ABO2203 program. For access to the candidate, plus options on additional RNA programs, Novartis paid an upfront sum of 575 million US dollars. Should defined milestones be met, further payments of up to 7.2 billion US dollars could follow.
Analysts Split Ahead of the Quarter
Institutional research desks have been recalibrating their views on the pharma group before the coming quarterly numbers. On Tuesday, Morgan Stanley analyst Thibault Boutherin lowered his price target on Novartis shares to 156 US dollars from 170, though he kept an "Overweight" rating as part of a reassessment of the risk-reward profile. Goldman Sachs struck a more cautious tone: on October 1, analyst James Quigley nudged his target up to 113 francs from 110 while reaffirming a "Sell" rating. Quigley judged third-quarter operating expectations to be broadly in line with market consensus and pointed chiefly to the strategic trajectory beyond 2030.
The broader development push is designed to offset potential revenue losses from mounting competition in oncology over the long run. Pipeline advances demonstrate that the group is deliberately reducing its dependence on individual therapeutic areas. In the second quarter, Novartis generated total revenue of 14.4 billion US dollars.
Market Snapshot and What Comes Next
Shares closed Friday at 127.90 euros, a modest daily gain of 0.7 percent. Since the start of the year, the stock has added 8.2 percent.
Investors will get a clearer picture of recent sales and earnings on October 27, when Novartis publishes detailed financial results for the third quarter and for the first nine months.
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