With a new chairman selected to take the helm of Novartis, lots of folks are wondering what is in store for the Swiss drugmaker. Not so fast, CEO Joe Jimenez said this week.
Flat sales and lower profits. These aren't predictions that shareholders like to hear. But like other Big Pharmas before it, Novartis faces generic competition for its biggest drugs. And like its rivals, the Swiss drugmaker is bracing for continued fallout.
Novartis has won European approval of Bexsero, its new meningitis B vaccine, which is central to the Big Pharma's drive to grow its big vaccine unit.
The Swiss are up in arms over executive pay again and, once again, Novartis ($NVS) executives are key exhibits in their case.
The Swiss are up in arms over executive pay again, and once again, Novartis ($NVS) executives are key exhibits in their case. This time, a fair-pay initiative will go up for nationwide vote, giving citizens the chance to weigh in on executive compensation.
Yesterday, analysts predicted that 2013 would be the year Big Pharma would take bigger bites from the M&A apple. But don't count Novartis ($NVS) among the crowd willing to pay $10 billion or more for the right company. CEO Joe Jimenez says his appetite is limited to $4 billion at most.
Novartis has scored a key endorsement for one of the brightest stars from its vaccines division. The European Union's Committee for Medicinal Products for Human Use (CHMP) backed approval of Bexsero, the Swiss drug giant's ($NVS) meningitis B vaccine that could become the first such shot to hit the market if the European Commission follows the CHMP's advice.
Manufacturing woes, actual and potential, overshadowed Novartis' ($NVS) earnings announcement today. In the realm of the actual, the company's Lincoln, NE, plant won't resume production by year's end as expected, because fixing problems there is taking longer than expected.
The acquisition strategy, though, will have to be tailored to continue the company's dividend support plan.
Novartis ($NVS) CEO Joe Jimenez isn't shy about holding up a "warning" sign. In an interview with Switzerland's Sonntags Zeitung over the weekend, Jimenez once again reminded folks to expect no fireworks from Novartis in the near term.