Swiss pharma giant Novartis recently garnered about $2.1 billion from investors by selling bonds linked to its promises to make its treatments more accessible in lower-income countries, according to STAT.
The drugmaker said in a Sept. 16 news release that its goal is to expand the number of patients who receive its drugs by at least 200 percent by 2025. It also aims to boost an initiative to reach patients with leprosy, malaria, sickle cell disease and Chagas disease, with the goal of reaching 23 million patients by 2025.
Should Novartis fail to accomplish its access and sustainability goals, investors will receive higher interest payments. The drugmaker plans to release annual progress reports on its efforts.
Novartis' bond sales come six months after Pfizer sold $1.25 billion worth of 10-year bonds tied to access and sustainability improvements.