You're watching...
Novartis CEO Joe Jimenez on the outlook for Novartis’ drug pipeline, competition from generics and the company’s expansion into other areas of hea...
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Shares of drug giant Novartis ending in -- red today after reporting earnings last night that missed estimates Liz got to sit down with a departed CEO.
Joseph Humana has in double those discussed not all of their earnings but what they've got in their pipeline right -- The government health care plan in the United States you and -- talked about it before you obviously walk a very fine line when you talk about it but.
That the big issue is that the mandate for getting insurance.
That's up for question could go to the Supreme Court what do you think of that mandate.
As I think about it as an American and I'm proud of the fact that we would have another forty million Americans -- have health care coverage under this bill.
Now there are still some things about the build -- that aren't favorable I think but but having every American under health care coverage I think it's a good thing.
To have you celta negatives from a -- -- how we are well -- we felt negatives in that we aerobic contributor to the cost of current funding the additional -- Switzerland not a part of the Euro -- but you have a stronger currency in some ways than others how do you wrap yourself around that and still do well when.
Those products then become little more expensive I know that you reported dollars.
Here we reported dollars in were based in Switzerland so there's a large percentage of our cost base that is in Swiss francs.
But our sales are very low in Switzerland not very low but in terms of the percentage it's around 2% of our total sales but over 10% of our cost.
So when the Swiss franc appreciates we feel disproportionate amount of of cost hit and that was one of the things -- puts a margin pressure on us.
Before we go an update on -- -- -- which.
When you've launched it oral multiple sclerosis drug the first of its kind yes there was a setback with one patient dying what's the update on that.
There was that the report of one patient that died within 24 hours of taking the drug.
However there's been no link between that patient and the drug there's an investigation underway which of course were participating in.
But we have clinical trial data from thousands and thousands of patients saying that there is there should be no imbalance between cardiovascular -- It's good to see you thank you so much -- around us -- -- -- as the CEO of Novartis.
David back to.
