Novartis Appoints Drug Dev Head as Next CEO

Sep 05, 2017

Novartis CEO Joe Jimenez recently announced that he will step down, effective on Feb. 1. In Jimenez's stead, drug development chief Vas Narasimhan will take over as CEO of the Swiss drugmaker.

Narasimhan along with head researcher Jay Bradner at the Novartis Institutes For Biomedical Research are seeking new methods for improving the company’s way of moving drugs from the lab into consumers hands, something the drugmaker has noted has been a challenge for Novartis.

"That’s going to continue to be the focus of the company: To translate that innovation into commercial success,” said Narasimhan.

Jimenez, will end his Novartis tenure after eight years with the company after also just helping the company win US approval for its $475,000-per-patient Kymriah treatment for young people with B-cell acute lymphoblastic leukemia.

Read the Reuters report