Novartis discovery chief departs in management shakeup

Restructuring under the gun of new generics and after being slammed by regulatory defeats, Novartis is bidding adieu to James Shannon, its chief of global drug development. In his place Novartis has appointed Trevor Mundel and Andrin Oswald. Shannon's departure comes soon after Alex Gorsky decamped from his post [1] as head of North American pharmaceuticals to take a job at J&J. Novartis provided little cover for Shannon's departure. A spokesperson said she had no idea what Shannon was planning to do next. Novartis has been reorganizing [2] since the constipation drug Zelnorm was withdrawn and its diabetes pill Galvus was delayed.

- read the report [3] in the Wall Street Journal

Related Articles:
Novartis' Gorsky to return to J&J. Report [1]
U.S. CEO exits Novartis. Report [4]
CEO: Novartis plans big restructuring. Report [2]
Lagging sales spur Novartis layoffs. Report [5]