Novartis updates on the migraine collaboration with Amgen
Basel, April 4, 2019 - Novartis announced today that there is a legal dispute with Amgen regarding the collaboration agreements in the field of migraine. On April 2, 2019, Amgen issued a notice of termination of its migraine collaboration agreements with Novartis based on an alleged material breach of the collaboration agreements. Novartis disputes the notice vigorously. In order to prevent an unjustifiable attempt by Amgen to end the collaboration, Novartis has filed a lawsuit asking the court to confirm that Amgen has no right to terminate the agreements. The agreements will remain in force unless and until a final and binding court decision is pronounced that terminates the agreements.
Novartis has brought a unique and established neuroscience footprint and expertise to the collaboration and has also made significant financial investments in the development and worldwide commercialization of Aimovig® (erenumab), a preventive treatment for migraine. Novartis considers the notice of termination unjustified and without legal merit. The dispute does not affect the Novartis vision and commitment to help people suffering from migraine worldwide.
This Statement contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as "in order to prevent," "asking," "will," "unless and until," "vision," "commitment," or similar terms, or by express or implied discussions regarding the ultimate outcome of the dispute between Amgen and Novartis. You should not place undue reliance on these statements. Such forward-looking statements are based on our current beliefs and expectations regarding future events, and are subject to significant known and unknown risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee as to the ultimate outcome of the dispute between Amgen and Novartis. In particular, our expectations regarding this matter could be affected by, among other things, the uncertainties inherent in legal matters and litigation, and other risks and factors referred to in 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 any forward-looking statements contained in this Statement as a result of new information, future events or otherwise.
Novartis is reimagining medicine to improve and extend people's lives. As a leading global medicines company, we use innovative science and digital technologies to create transformative treatments in areas of great medical need. In our quest to find new medicines, we consistently rank among the world's top companies investing in research and development. Novartis products reach more than 800 million people globally and we are finding innovative ways to expand access to our latest treatments. About 130,000 people of more than 145 nationalities work at Novartis around the world. Find out more at www.novartis.com.
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