Novartis Restructure Sees Drug Development And Oncology Chiefs Exit
Aims To Boost R&D And Commercial Performance
Tsai and Schaffert out as the Swiss giant looks to maximize returns from its US business, and find more transformational drugs with the help of a new ‘strategy and growth officer’.
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The ex-chief medical officer at Novartis is now CEO at the UK-based biotech, which he he told Scrip could have a ‘transformational’ therapy to protect patients after a heart attack.
The funds will help advance biologic R&D, manufacturing and commercialization capabilities across Europe as the major pursues more sophisticated modalities, its global biologics head tells Scrip.
Sandoz has responded to recent rumors that parent company Novartis is favoring a spinoff of the generics and biosimilars business over a sale or retention, insisting that “all options remain open” as a strategic review of the unit continues.