MADRID, 6 Dec (APM) - Spain's tax agency has reimbursed €6.3 million to Novartis following an agreement with Swiss authorities, financial newspaper Cinco Días reported on Wednesday.
Tax agencies from Spain and Switzerland reached an agreement on how much the company has to pay in each country, resulting in the reimbursement. In 2017, the Spanish federal tax agency carried out an inspection of the company's taxes from 2011 to 2014. The result was a €20.6 million tax bill, the financial reported.
After paying that sum, Novartis filed a request for a friendly agreement between the two agencies to determine how much it should pay in each country. "According to the company - one of the biggest pharmaceutical firms in the world, with Roche and Pfizer -, the tax increase in Spain created a double levy for the firm in Switzerland," Cinco Días said.
The financial quoted Novartis sources as saying that the agreement was reached in April. The source added that both agencies have agreed to reduce their respective taxes in order to make up for the 'double levy' on the company’s income.
Novartis' sales in Spain have increased 6.5% in Spain to €1.6 billion, the newspaper noted.
Chiesi develops environmentally friendly inhaler
During the Climate Change Conference (COP25) in Madrid, Chiesi announced it is planning a future launch of an environmentally friendly inhaler for patients with asthma and chronic obstructive pulmonary disease (COPD), Europa Press agency and medical journals Gaceta Médica, Redacción Médica, Acta Sanitaria and Europa Press agency report on Friday.
Acta Sanitaria and Redacción Médica both focus on the cost of developing the new inhaler, with the same headline: "Chiesi invests €350 million in sustainable inhaler".
Gaceta Médica says that Chiesi is the first pharmaceutical firm to publicly announce a solution to address the carbon footprint of spray inhalers (pMDI) while protecting the necessary therapeutic options for patients.
The journal notes that the company has a five-year plan to bring these new formulations to market. They are expected to reduce the carbon footprint of pMDI inhalers by 90%.
The plan includes a commercial agreement with Koura to supply a new propellant with similar carbon footprint to that of dry powder inhalers. Chiesi has already invested €50 million in manufacturing facilities adapted to the new formulation, Gaceta Médica adds.
Grifols closer to launch of new Alzheimer's drug
On Friday, Grifols is expected to disclose updated information about its investigational drug to treat Alzheimer's disease (AD), financial newspaper Cinco Días reported on Monday. Daily newspaper La Vanguardia carried the story on Thursday.
Grifols' next move can be highly relevant in terms of revenue and benefit for patients, Cinco Días said. Results of its AMBAR (Alzheimer Management by Albumin Replacement) study will be presented at the Clinical Trials on Alzheimer's Disease (CTAD) Conference in San Diego (U.S.), the financial added.
This is the fourth public data update of the AMBAR trial, following presentations in Lisbon, Los Angeles and Barcelona. In San Diego, biomarkers and neuroimaging results will be disclosed, showing how the treatment has influenced brain glucose, La Vanguardia reported.
According to Cinco Días, Goldman Sachs has said sales of the therapy could reach €2.7 billion at cost of $5,000-10,000 per patient.
Details of how and when the company will file the therapy with the U.S. Food and Drug Administration and the European Medicines Agency will be announced in San Diego, Antonio Páez, medical director of the AMBAR programme, told Cinco Días.
New data on Roche's satralizumab
Roche has announced that the latest data of Phase III trial SAkuraSky on the safety and efficacy of satralizumab for neuromyelitis optica and neuromyelitis optica spectrum disorders (NMO/NMOSD), have been published in The New England Journal of Medicine, medical journal Acta Sanitaria and Europa Press agency report on Friday.
The journal quotes Levy Garraway, chief medical officer and head of global product development at Roche as saying: "Positive results in the pivotal trial SAKuraSky support the hypothesis that IL-6 plays a key role in neuromyelitis optica spectrum disorders, a debilitating and potentially fatal disease."
According to Garraway, satralizumab has shown solid sustained efficacy for 144 weeks in a big patient population, both as monotherapy and in combination with other treatments, Acta Sanitaria adds.