Novartis's generics chief is quitting after the Swiss drugmaker sold parts ...
FILE PHOTO: Richard Francis talks during an interview with Reuters in Basel, Switzerland January 25, 2017. REUTERS/Arnd Wiegmann
Richard Francis, Sandoz’s boss since 2014, is stepping down, Novartis Chief Executive Vas Narasimhan said on Thursday, adding “Richard has decided that for personal reasons he cannot commit to stay with Sandoz until the transformation is completed”. Balestrieri, at Novartis for 25 years, assumes control over a division with nearly $10 billion in annual sales.
Narasimhan has been remaking Novartis by buying speciality treatments like nuclear medicine for cancer and gene therapy, while jettisoning an over-the-counter drugs business and eye surgery-and-contact lens division Alcon, due to be spun off as early as next month.
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