Having successfully completed the integration of GSK's oncology business, the multinational announced the separation of activities into two business units: Novartis Oncology and Novartis Pharmaceuticals. The change will be effective from 1 July. The current head of the pharma division, David Epstein, will leave the company
Of Aboutpharma Online editorial staff – May 18, 2016
Novartis' pharmaceutical division splits in two. The Swiss multinational has announced that it will separate the pharma activities into two distinct business units: one specifically dedicated to products and gene therapies in the oncological field (Novartis Oncology) and the other (Novartis Pharmaceuticals) to the remaining products in the ophthalmological, immunological and dermatological fields , respiratory, cardio-metabolic, neuroscience and established brands.
The decision reflects the importance that the oncology business has for the company today, also following theSuccessfully completed acquisition of GlaxoSmithKline's oncology businesses.
The two business units will be part of the new Innovative Medicines division. The change will be effective from July 1st. The CEO and head of the current pharmaceutical division, David Epstein, has announced that he will leave the company to pursue "new opportunities in the United States". In his place Paul Hudson (current vice president of AstraZeneca's North American activities) will lead the Novartis Pharmaceuticals business unit while the current head of oncology activities of the Swiss company Bruno Strigini will be the new CEO of Novartis Oncology. Both will report directly to CEO Joseph Jimenez.
Related news: Novartis Splits Up Drug Unit as Top Executive Will Depart
