trending Market Intelligence /marketintelligence/en/news-insights/trending/5FICFKXuVUa7YbSe5FjFVA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Novartis' AveXis changes senior leadership amidst FDA probe

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform


Novartis' AveXis changes senior leadership amidst FDA probe

Just over a week after the U.S. Food and Drug Administration launched a probe into Novartis AG and its unit AveXis Inc. for falsifying preclinical data for the gene therapy Zolgensma, AveXis announced that it has changed up its senior leadership team.

AveXis, which developed Zolgensma, appointed Page Bouchard as senior vice president of research and chief scientific officer, according to an Aug. 14 statement from the company. Bouchard's appointment was effective Aug. 5.

Bouchard's position will be a combination of the roles of head of research and development and chief scientific officer, which were previously held by Allan Kaspar and Brian Kaspar, respectively.

Both Brian and Allan Kaspar have not been involved with AveXis since May and are no longer with the company, according to the Aug. 14 statement.

The announcement comes in the midst of a probe from the FDA regarding the manipulation of data provided by AveXis for trials of Zolgensma, a $2.1 million gene therapy for spinal muscular atrophy, a rare genetic childhood disease that impacts the nervous system that controls voluntary movement.

The FDA launched the probe Aug. 6 after finding that data during animal trials for Zolgensma had been manipulated. Novartis was aware of the issue as early as March, but did not notify the FDA until June 28, after Zolgensma's May approval.

Novartis CEO Vas Narasimhan has stood by the company's actions, saying Aug. 7 that Novartis "tried to do the right thing in this instance."

The situation has even drawn the attention of Capitol Hill, where a group of senators has asked the FDA to ensure that the Swiss pharmaceutical giant is held accountable.

The FDA said criminal and civil penalties could come as a result of the probe. The agency has acknowledged that the situation does not impact Zolgensma's benefits.