May 17, 2016
Novartis has announced that it has created two business units reporting to the CEO: Novartis Oncology and Novartis Pharmaceuticals. The Innovative Medicines Division at Novartis will be formed by these business units. The Executive Committee of Novartis (ECN) will be effective from July 1, 2016, and the leader of each business will join this committee. Bruno Strigini will become CEO of Novartis Oncology and Paul Hudson will be appointed as CEO of Novartis Pharmaceuticals. Both will report directly to CEO of Novartis, Joseph Jimenez. In the meantime, David Epstein, currently Division Head and CEO, Novartis Pharmaceuticals, has decided to leave Novartis.
Following the successful integration of the oncology assets acquired from GSK, the new structure reveals the importance of oncology to Novartis. The company expects increased focus and improved execution for both the Novartis Oncology and Novartis Pharmaceuticals business units, which will help drive its growth and innovation strategy.
Novartis will continue to have three focused, customer-facing divisions from July 1, 2016: Innovative Medicines (formerly the Novartis Pharmaceuticals division), which will include the Novartis Pharmaceuticals and Novartis Oncology business units; Alcon, the eye care devices division, which includes the Surgical and Vision Care franchises; and Sandoz, the generics and biosimilar division, which includes the Retail Generics, Anti-Infectives and Biopharmaceuticals franchises. Novartis Institutes for BioMedical Research, Global Drug Development and Novartis Operations, which includes Technical Operations and Novartis Business Services, will continue supporting these three divisions.