Novartis splits pharmaceuticals division into two business units
Novartis has announced internal structural changes that it says will “focus” its pharmaceuticals division by creating two business units, Novartis Pharmaceuticals and Novartis Oncology, reporting to the CEO.
Paul Hudson is set to be appointed CEO of the Novartis Pharmaceuticals while Bruno Strigini will head the oncology division. With these new changes being enforced, current division head and CEO at Novartis Pharmaceuticals, David Epstein, is set to leave the company.
Both Hudson and Strigini will join the executive committee of Novartis effective July 1 2016.
Hudson will join from AstraZeneca where he served as executive VP for North America. He will take charge of Novartis’s neuroscience, ophthalmology, immunology and dermatology, respiratory, cardio-metabolic and established medicines. He will be based at the global headquarters of the division in Basel, Switzerland.
Strigini joined Novartis from MSD in 2014 to lead the oncology business and will continue to focus on oncology and cell and gene therapies. He will also be based in Switzerland.
Joe Jimenez, CEO of Novartis, paid tribute to Epstein and his work for the company. He comments: “He built our leading Oncology business and over the last six years has steered our Pharmaceuticals Division through a period of excellence in innovation, execution and improved financial results. Over the course of his career he and his teams have been responsible for leading the development and commercialization of an industry leading number of new medicines including groundbreaking therapies such as Glivec®, Gilenya®, Cosentyx® and Entresto(TM). I want to express my personal appreciation for all David has done for Novartis and patients and wish him continued success.”
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