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CEO Gambles on a Novartis Makeover
Keywords:
Tags: Pharmaceutical,
Changes Novartis CEO Daniel Vasella is making in the pharmaceutical business. He has hired Joe Jimenez, who is running Novartis's consumer health care business to be the new pharmaceutical division chief. Jimenez previously worked at packaged goods companies including H.J. Heinz Company. Jimenez is cutting 25% of the jobs at pharmaceutical division's headquarters in Basel to reduce bureaucracy and costs. In March he promoted Trevor Mundel and Andrin Oswald, 2 young executives, to head the drug developmet group which puts drugs through human testing and submits them for regulatory approval. This group had become too bureaucratic and slow to move and take initiative. To improve its functioning Jimenez is organizing it into small teams with each team assigned an experimental drug in Novartis's pipeline. Each team of 8 people including physicians, experts in regulatory affairs and marketing and toxicologists work together to spot potential safety issues early and discuss them with regulators to determine whether to put the drug through expensive clinical trials. Each team takes the responsibility to take its drug to the market. The pharmaceutical unit is also being organized to be more nimble. It solicits health systems early on whether its willing to pay for drugs. And Jimenez has startd 4 pilot projects in tough markets to improve relationships with payers, including the Pacific Northwest where Novartis has offered to train an HMO's nurses in aspects of heart disease. Vasella supports the generics division of Sandoz because the growth is in generics, with generics commanding 60% of the prescription volume in Germany and USA, and sales for generics up 25% this year in the generics division. And Novartis paid $39 billion for Alcon, a eye care company. Its also working aggressively in the vaccines business, which like generics enjoys double digit growth.
Novartis is developing a whole new system for developing pharmaceutical treatments by putting medical science at the centre of things.
12/11/2007
Novartis' CEO Vasella, and Dr Fishman who heads the global research labs in Cambridge, Massachusetts, are redoing the way the company develops drugs and runs the company. Senior leaders are now medically trained scientists, and Novartis has shed much of the old marketing and sales staff. Drug discovery focusses on Dr. Fishman's approach to go after common molecular pathways and develop medicines for diseases that may be rare, but reveal the knowledge behind addressing all diseases that have that common underlying molecular pathway as the source of the diseases functioning.
Grouped Articles
Novartis Chairman Stresses Need for R&D Investment
Wall Street Journal 03/22/2014
Wall Street Journal 12/11/2007
Wall Street Journal 12/17/2007
BusinessWeek 05/08/2008
CEO Gambles on a Novartis Makeover
Wall Street Journal 05/20/2008
BusinessWeek 09/04/2008
Restructuring of pharmaceutical companies
01/16/2007
Changes in the organization structure at western pharmaceutical companies.
Grouped Articles
Wall Street Journal 01/16/2007
CEO Gambles on a Novartis Makeover
Wall Street Journal 05/20/2008
Wall Street Journal 10/08/2008
Seeking a Shorter Path to New Drugs
New York Times 11/15/2009
Drug Manufacturing Jobs Shrink in the West
New York Times 07/06/2010
Novartis restructuring.
12/11/2007
Grouped Articles
Splitting the Pill at Novartis Will Be Easier Said Than Done
Wall Street Journal 11/18/2013
Novartis Starts $5 Billion Share Buyback
Wall Street Journal 11/22/2013
Wall Street Journal 12/11/2007
Novartis to Focus on Influence Insurers Wield Over Doctors
Wall Street Journal 12/14/2007
CEO Gambles on a Novartis Makeover
Wall Street Journal 05/20/2008
Wall Street Journal 10/21/2008
Slimming down marketing and sales at American and European pharmaceutical companies.
10/25/2006
American and European drug companies are slimming down marketing and sales as the old marketing practices are not working, and new strategies are taking their place.
Grouped Articles
Drug Firms Curb Ties to Doctors
Wall Street Journal 12/18/2013
Wall Street Journal 01/16/2007
Drug Companies Face Political, Scientific Attacks
Wall Street Journal 01/23/2008
CEO Gambles on a Novartis Makeover
Wall Street Journal 05/20/2008
Drug Industry to Announce Revised Code on Marketing
New York Times 07/10/2008
Wall Street Journal 10/21/2008
Novartis.
05/23/2007
Grouped Articles
Novartis Weighs Impact Of Teva's Generic Drug
Wall Street Journal 05/23/2007
Wall Street Journal 12/11/2007
CEO Gambles on a Novartis Makeover
Wall Street Journal 05/20/2008
Wall Street Journal 10/21/2008
Novartis Acquires Rights to Heart Drug
Wall Street Journal 02/12/2009
FDA Approves a Novel Novartis Drug
Wall Street Journal 06/19/2009
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