Novartis confident in 2017 Entresto goal

Novartis AG (NYSE:NVS; SIX:NOVN) believes sales of heart failure drug Entresto sacubitril/valsartan can reach the company's $500 million goal this year, although the company's 1Q17 earnings report released Tuesday said sales were $84 million for the quarter.

On a conference call Tuesday, Novartis Pharmaceuticals CEO Paul Hudson said the sales target is "definitely achievable," now that the drug's U.S. sales force has been fully deployed and the company expects growth from sales in additional territories. FDA approved Entresto in July 2015. Sales of the drug were $170 million in 2016, far below earlier estimates that it would surpass $700 million (see BioCentury, May 23, 2016)...