A pharma giant is moving past one patent cliff — but another is already looming

"This medicine could be one of our largest medicines in history," Novartis CEO Vas Narasimhan told CNBC on Tuesday, as the Swiss drugmaker backed remibrutinib, its experimental MS medicine, to generate more than $4 billion in peak annual sales. Days before, Barclays cut its forecast for the drug's peak sales after detailed results from two late-stage trials showed the drug had reduced relapses in MS patients by less than analysts expected. It highlights a challenge for Novartis as it prepares to outline its long-term growth strategy in mid-November. The drugmaker reported sales growth this week despite losing key patent protection for blockbuster heart drug Entresto.