Joe Jiménez, Novartis outgoing CEO, describes group’s strategy

The German daily Neue Zürcher Zeitung has published a long interview to Joe Jiménez, outgoing CEO of Switzerland-based pharmaceutical group Novartis. The American manager has addressed the ethical value of drug manufacturing and marketing and the need to make them available to everyone, making sure at the same time that companies can support themselves. Jiménez expects a steady decrease in drug prices and a market rationalization. The manager has also commented the price policy for the new gene therapy Kymriah, valued at $475,000, lower than the price predicted by analysts. Concerning the strategy for Alcon, Novartis is likely to spin it off, and to remain a shareholder of it. As for Sandoz, Jiménez has disclosed a strategic solution–i.e. divesting the US generics unit, due to the drop in generics prices in the North American market. The Chinese market will be increasingly pivotal to the group, therefore Novartis has made a significant investment in a R&D Campus in Shanghai. To confirm that this is a valid strategy, the group has obtained significant approvals by the Chinese authorities and is generating double-figure revenues.
(Source: NZZ)