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CHICAGO — Something is off about the way Novartis is talking about pelabresib, its newly acquired and costly treatment for myelofibrosis. I suspect the Swiss pharma giant’s previously stated plan to submit a marketing application to the Food and Drug Administration this year has been blocked.
I’m not just speculating wildly. It’s looking increasingly likely that the $3 billion purchase of MorphoSys to acquire pelabresib — a deal pushed hard by top Novartis executive strategist Ronny Gal over some internal dissent — has run into serious trouble just days after the closing.
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On Sunday evening, Novartis Chief Medical Officer Shreeram Aradhye, speaking at the company’s ASCO investor event here in Chicago, offered this response to an analyst who asked about pelabresib.
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