Novartis has focussed its pharmaceutical division by creating two business units, Novartis Pharmaceuticals and Novartis Oncology, that will together function as the Innovative Medicine Division at Novartis
The new structure reflects the importance of oncology following the successful integration of the oncology assets acquired from GSK, according to Novartis.
The company said it 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 will be appointed CEO, Novartis Pharmaceuticals and Bruno Strigini will become CEO, Novartis Oncology and both will join the Executive Committee of Novartis (ECN) effective July 1, 2016. Both will also 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.
From July 1, 2016 Novartis said it will continue to have three focused, customer-facing divisions: Innovative Medicines, which will include the Novartis Pharmaceuticals and Novartis Oncology business units, Sandoz, the generics and biosimilar division and Alcon, the eye care devices division.