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Switzerland
Novartis improved its profitability in 2020 against a modest increase in sales and continuing pressure on prices and competition from generics. Sales for the year amounted to $48.7 billion, up by 3% from a year earlier. Operating income was $10.2 billion, up by 12% giving an operating margin of 20.9%. This compares favourably with a margin of 19.2% the previous year.
Switzerland
A spin-out of Harvard University in Cambridge, US, has raised seed funding of $5 million to develop a therapy for the delivery of healthy mitochondria into cells where these organelles are impaired. Cellvie Inc received the funding from an investment group led by Kizoo Technology Capital which supports start-up companies and early-stage portfolios. Founded in the US and headquartered near Zurich, Switzerland, Cellvie is developing cell-based medicines for treating mitochondria dysfunction.
Israel
An Israeli company which is developed new antimicrobial peptides has won €10.8 million in European Union funding to conduct early clinical studies of a product directed against infections caused by Gram-negative bacteria. Omnix Medical Ltd of Jerusalem has developed its technology by studying how insects use their innate immune systems to kill bacteria – an evolutionary mechanism that goes back millions of years.
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