Swiss pharma giant Novartis (NOVN: VX) late yesterday announced major changes to focus its Pharmaceuticals Division by creating two business units reporting to the chief executive: Novartis Pharmaceuticals and Novartis Oncology.
The new structure reflects the importance of oncology to Novartis following the successful integration of the oncology assets acquired from GlaxoSmithKline. These business units will form the Innovative Medicines Division at Novartis, the company said.
Novartis expects this change to help drive our growth and innovation strategy, with an increased focus and improved execution for both the Novartis Oncology and Novartis Pharmaceuticals business units. The news had little impact on investors, with Novartis’ shares up just 1% at 74.10 Swiss francs in early trading.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze