Novartis establishing a joint investment company with Qualcomm Ventures, the venture investment group of Qualcomm Incorporated, of up to USD 100 million to support early stage companies with technologies, products or services that "go beyond the pill"
Digital technologies can optimize the value of innovative medicines by providing integrated solutions for physicians and patients and advancing the practice of medicine
Qualcomm Ventures, is a leading global investor in wireless technologies and one of the most active strategic investors in digital health
Basel, January 12, 2015 - Novartis Pharmaceuticals announced today the plans to establish of a joint investment company with Qualcomm Ventures, the investment arm of Qualcomm Incorporated, to target early stage companies who offer technologies, products or services that "go beyond the pill" to benefit physicians and patients.
"By working with Qualcomm Ventures, Novartis sees the opportunity to take a greater leadership role in introducing new mobile or digital technologies that have the potential to change the practice of medicine and bring more breakthroughs with real benefits to patients and society," said David Epstein, Division Head, Novartis Pharmaceuticals. "We are excited by the potential of digital medicines to further enhance our mission of the right drug for the right patient at the right time helping people live longer with a better quality of life giving more time to do the things that matter to them."
Digital and mobile technologies are expected to make a significant difference in the pharmaceutical industry. New technologies are emerging such as telephone enabled devices, mobile applications, wearable devices, and technologies for big and small data to enable delivery of the right medicine to the right patients and more robust pharmacoeconomic analyses. The plan to establish the joint investment company combines the knowledge of Novartis' innovation in the research, development and manufacturing of innovative medicines with Qualcomm's expertise in digital and mobile technologies.
This press release contains expressed or implied forward-looking statements, including statements that can be identified by terminology such as "can," "target," "opportunity," "potential," "mission," "expected," or similar expressions. Such forward-looking statements reflect the current views of the Group regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results expressed or implied by such statements. These expectations could be affected by, among other things, risks and factors referred to in the Risk Factors section of Novartis AG's current Form 20-F on file with the US Securities and Exchange Commission. Novartis is providing the information in this press release as of this date and does not undertake any obligation to update it in the future.
Novartis provides innovative healthcare solutions that address the evolving needs of patients and societies. Headquartered in Basel, Switzerland, Novartis offers a diversified portfolio to best meet these needs: innovative medicines, eye care, cost-saving generic pharmaceuticals, preventive vaccines and over-the-counter products. Novartis is the only global company with leading positions in these areas. In 2013, the Group achieved net sales of USD 57.9 billion, while R&D throughout the Group amounted to approximately USD 9.9 billion (USD 9.6 billion excluding impairment and amortization charges). Novartis Group companies employ approximately 130,000 full-time-equivalent associates and sell products in more than 150 countries around the world. For more information, please visit http://www.novartis.com.
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