Novartis CEO: Don't expect us to slay Vasella's pets

CEO Joe Jimenez

With a new chairman selected to take the helm of Novartis ($NVS), lots of folks are wondering what is in store for the Swiss drugmaker. Not so fast, CEO Joe Jimenez said this week. Just because former Chairman Daniel Vasella has left, don't expect the Swiss company to just up and sell its $12 billion stake in Roche ($RHHBY), the accumulation of which was a pet project of Vasella, Reuters reports. And while he was at it, the CEO swatted back talk that Novartis might want to sell its vaccine business, which also came to the Swiss drug giant on Vasella's watch. FiercePharma's Report

Suggested Articles

Almirall and Iktos will use the latter's AI technology to design new compounds that tick multiple drug criteria boxes.

Pfizer’s 2017 spinout company SpringWorks has lost president and founder Lara Sullivan, M.D., who has moved over to Pyxis Oncology as its new chief.

In this week's EuroBiotech Report, Sanofi inks $2.5B Synthorx takeover and posts sutimlimab data, Roche shares bispecific results and more.