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.
Novartis ($NVS) CEO Joe Jimenez is only one pharma executive who figures the industry can learn a thing or two from consumer goods.
In the course of 9 months, the company received a three-plant FDA warning letter, closed its key OTC plant and had to tell shareholders that revenues slid 4% because the manufacturing mess kept it from having its most popular consumer products.
We're wondering whether Shire CEO Angus Russell and Novartis chief Joe Jimenez were separated at birth. Sure, the two companies are worlds apart, size-wise. But the two CEOs both see pharma's future--and the future of their own companies--as more customer-oriented and nimble, informed by strategies long used in the consumer-goods business.
Novartis CEO Joe Jimenez managed to impress the Wall Street crowd today with some solid numbers for the second quarter.
Novartis CEO Joe Jimenez has a new answer to his critics in Switzerland, where the drug giant's major layoff plans ignited a wave of protests against the company.