Novartis Global Reorg: One Unit Won't Make the Cut, Says CEO

Mar 20, 2014

Reuters

Novartis Chief Executive Joe Jimenez expects that at least one of the drugmaker's three sub-scale units - animal health, vaccines and over-the-counter medicines - won't make the cut as the CEO reshapes the company for what he expects to be a tough era in healthcare spending.

"I really wish we could make all three of those businesses global scale, but I think it's unlikely," Jimenez told Reuters.

Jimenez did not specify which of the three units was most likely to be sold, but mentioned OTC as a strong growth area. The review is due to be completed by the end of the summer.

Read the full Reuters press release