23 Oct 2013, BioSpectrum Bureau , BioSpectrum
Singapore: Novartis is evaluating its business units that do not have global scale and critical mass. Novartis CEO, Dr Joseph Jimenez, revealed that "It's important that each of our businesses have global scale and critical mass. We are looking at ways to either strengthen them or to think about other opportunities for those businesses."
The CEO further mentioned that Novartis' business units including Alcon eyecare and generics division Sandoz have gained critical mass and will not be parted away with. Novartis has a total of five business units, including vaccines and consumer health activities.
Dr Joerg Reinhardt, Novartis' new chairman, initiated a review of the firm's portfolio, fueling speculations that some of the drug maker's smaller units could be sold, spun-off or integrated into other divisions.