Under CEO Vas Narasimhan, Novartis has slimmed down what was a sprawling conglomerate spanning prescription and generic drugs, eye care and consumer healthcare. The drugmaker sold its stake in a consumer health joint venture with GlaxoSmithKline in 2018 and, a year later, spun off its eye care unit Alcon as a independent company.
Tuesday’s announcement of a strategic review for Sandoz, meanwhile, follows a failed bid by Novartis to sell about 300 of its products to India’s Aurobindo Pharma, a deal that was terminated after U.S. regulators refused to sign off.
“The review will explore all options, ranging from retaining the business to separation, in order to determine how to best maximize value for our shareholders,” Novartis said in a statement.
In a conference call, Narasimhan said the company would provide an update on progress “at the latest by the end of next year.” READ MORE
Ned Pagliarulo
Source: biopharmadive.com
Five years ago, GSK made headlines when it hired Emma Walmsley to become the first woman to run a major pharmaceutical company. Now the Big Pharma has brought in another woman to control the company’s finances. Julie Brown will be GSK’s next chief financial officer. Brown, currently the chief operating and financial officer at fashion and beauty brand Burberry Group, is set to replace Iain Mackay.
Moderna created a new role responsible for “building out the company’s organization to support its growing pipeline.” Starting first thing 2023, Juan Andres, Moderna’s manufacturing head, will step into this new role under the title president of strategic partnerships and enterprise expansion, the company said Thursday.
The latest takeover is anticipated to boost the presence of Torrent in the dermatology segment. Indian company Torrent Pharmaceuticals has signed a definitive agreement for the complete acquisition of Curatio Healthcare for $245.16m (Rs20bn).
