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Novartis Committed to Sandoz generic business: CEO Vas Narasimhan
Zurich: Novartis Chief Executive Vas Narasimhan on Tuesday renewed his commitment to his Sandoz generic unit where sales growth in 2020 stagnated due to reduced hospital stays during the COVID-19 pandemic.
"We remain committed to the Sandoz business," Narasimhan said during the company's annual results news conference, when asked about the Swiss company's plans for the generics unit that over the years has been subject of disposal or spin-off speculation.
Novartis's fourth-quarter results on Tuesday missed analyst forecasts. Narasimhan also announced a revamp of his digital operations, including the exit of Chief Digital Officer Bertrand Bodson.
Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751