Novartis Calls the Doctor to Push Breakthrough Drugs Forward
- New CEO to oversee rollout of breakthrough oncology treatments
- 41-year-old helped develop some of Novartis’s biggest drugs
Boxes of tablets, produced by Novartis AG, sit on a pharmacy counter in this arranged photograph in London, U.K., on Thursday, Dec. 29, 2016. The rapid pace of innovation among drugmakers may continue to be overshadowed by broader investment themes, such as the switch away from defensive stocks into more cyclical industries, during 2017, according to Bloomberg Intelligence.
Photographer: Chris Ratcliffe/BloombergThe last time Novartis AG hired a new chief, the drugmaker went with a guy who spent years at companies that make bleach and ketchup. This time around, the Swiss company chose someone with a deep understanding of treatments for heart failure, cancer, and the infectious diseases that plague poor countries.
On Monday, Novartis said Vas Narasimhan, who rose through its ranks to become global head of drug development, will take the reins. As of February, he’ll replace Joe Jimenez, who had stints at Clorox Co. and ConAgra Foods Inc. before running the North American and then European operations of H.J. Heinz Co.