Novartis Creates Two Pharma Business Units, Names New CEO

May 18, 2016

Novartis announced changes to its Pharmaceuticals Division by creating two business units reporting to the CEO: Novartis Pharmaceuticals and Novartis Oncology, which will form the Innovative Medicines Division. The leader of each business will join the Executive Committee of Novartis (ECN) effective July 1, 2016. Paul Hudson will be appointed CEO, Novartis Pharmaceuticals; and Bruno Strigini will become CEO, Novartis Oncology. Both will report directly to Joseph Jimenez, CEO of Novartis. With these changes, David Epstein, currently Division Head and CEO, Novartis Pharmaceuticals, has decided to leave Novartis.

Novartis says the new structure reflects the importance of oncology following the successful integration of the oncology assets acquired from GSK. Novartis expects this change to help drive its growth and innovation strategy, with an increased focus and improved execution for both the Novartis Oncology and Novartis Pharmaceuticals business units.

Paul Hudson, currently executive VP, North America and member of the Executive Committee, AstraZeneca, will join Novartis and lead Novartis Pharmaceuticals. Prior to his role in North America, he served as the leader of AstraZeneca's Japanese business. Novartis Pharmaceuticals will include the franchises Neuroscience, Ophthalmology, Immunology and Dermatology, Respiratory, Cardio-Metabolic and Established Medicines. Hudson will be based at the global headquarters of the Innovative Medicines Division and the Novartis Pharmaceuticals business unit, which will be in Basel, Switzerland.

Bruno Strigini, currently Head of Novartis Oncology, will lead the Novartis Oncology business unit, comprised of the franchises Oncology and Cell and Gene Therapies. Strigini joined Novartis in 2014 from Merck & Co. to lead the oncology business and was instrumental in the successful integration of the oncology assets acquired from GSK. He will be based at the global headquarters of the Innovative Medicines Division and the Novartis Oncology business unit which will be in Basel, Switzerland.

David Epstein, currently division head and CEO of Novartis Pharmaceuticals, has decided to leave Novartis and explore new challenges.

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