Novartis appoints Joe Jimenez as ceo
Novartis has named Joe Jimenez as its new chief executive while Daniel Vasella steps aside to become chairman as the Swiss drugmaker announced record-breaking results for 2009.
Novartis has named Joe Jimenez as its new chief executive while Daniel Vasella steps aside to become chairman as the Swiss drugmaker announced record-breaking results for 2009.
"After 14 years as ceo it is the right time to complete the carefully planned succession process, which started over a year ago," said Vasella.
Jimenez, currently head of Novartis" pharmaceuticals division, will start his new role on 1 February. David Epstein, currently head of the Novartis Oncology business, will succeed him. Jon Symonds will take over as cfo, from Raymond Breu, who will retire on 31 March.
Earnings rose 8% to US$10.3bn in 2009, while sales increased to US$44.3bn, led by Novartis" core pharmaceuticals business.
The company said its Vaccines and Diagnostics division achieved "exceptionally high sales" (+39% in local currencies) by developing H1N1 pandemic vaccines. Sandoz and Consumer Health both saw sales rise by 5%.
Top performing regions were Europe (+10%) and the US (+11%).
During the year, Novartis received more than 30 drug approvals, with 145 projects in pharmaceutical clinical development, of which 60 involve new molecular entities. It also launched the first-ever biosimilars in Japan and Canada.
Many submissions are planned for 2010, with up to five in oncology.
Access-to-medicine programmes including medication for malaria and leprosy reached 80 million patients in 2009, with contributions valued at US$1.5bn, or 3% of sales.
The firm said 2010 would be a year of "significant progress" as it continues to focus on innovation, growth and productivity.