Sandoz Head Francis To Leave Amid Move Towards Autonomy
Sandoz’ drive to greater efficiency and stronger profit margins through a group-wide transformation process has prompted the division’s global head, Richard Francis, to step down.
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Sandoz is set to undergo a transformation in terms of operational efficiency, geographic footprint and portfolio offering in a bid to lift its operating margin from the mid-teens range towards 20%.
With an optimized manufacturing base, a narrower geographic footprint, and a tighter portfolio focus on differentiated biosimilars and hard-to-make generics, Novartis believes a more autonomous Sandoz division can remain an “integral part” of the Swiss group.
A Sandoz generics division that is focusing more on biosimilars and hard-to-make small molecules remains “an important part of Novartis”, the Swiss group’s chief executive officer, Vas Narasimhan, told investors during a J.P. Morgan Healthcare Conference.