Novartis outlines aims to be more profitable and increasingly focused

Swiss drug major Novartis (NOVN: VX) has set out its new focused portfolio at the first Meet Novartis Management investor day in Basel, Switzerland.

The company’s top executives met with 100 analysts at Novartis headquarters to deliver its report on the conclusion of the portfolio review announced in April. The company reiterated its focus on three business areas: Pharmaceuticals – building business depth in dermatology, heart failure, respiratory and cell therapy, complementing already strong oncology business; subsidiary Alcon is positioned well for continued growth in all three of its franchises, surgical, ophthalmic pharmaceuticals and vision care, and Sandoz is expected to extend its global leadership position in complex, differentiated generics and biosimilars.

Novartis chief executive Joseph Jimenez said: “In the first few months of 2014, we have delivered on a number of commitments made at our last investor event in November to actively manage our portfolio, achieve greater synergies between divisions, and lay the foundation for superior returns to shareholders.”