A Fresh Strategy for Hiking Sales
BRING IN NEW TALENT
The company revamped its 200-strong senior marketing team by poaching more than 80 executives from rivals, a move that has helped push sales of key products up 50% since November, 2000.
BUILD GLOBAL BRANDS
For the first time, Novartis will market and sell drugs globally under one brand name. It will also coordinate its entire global sales effort from headquarters for first time and allocate 50% of marketing resources to five best-selling drugs, rather than spreading spending across a vast portfolio.
BLITZ THE MARKET
Novartis will spend big on product launches. Over the next two years, $1.2 billion will be devoted to launching five drugs.
BOOST MARKET RESEARCH
Local sales forces are asking doctors and patients for new ideas for drugs and coordinating better with R&D teams for clinical trials.