Novartis India MD On Scalable Digital Solutions, Balancing Work-Life Mix Amid COVID-19
Novartis India chief outlines how the company is navigating the challenging business environment amid the coronavirus pandemic, including for its for-profit social business. Digital solutions are a key part of these efforts and the executive offers advice for those struggling to balance the work-life mix in these testing times.
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Managing directors/CEOs of foreign firms in India drew higher remuneration in 2019-20 versus the previous year and overall earnings of peers at Indian firms continued to be way higher in general. CEO-to-employee pay ratios remains stark, reaching over 550 in one case.
The Swiss major says operations have not faced significant disruptions from the coronavirus pandemic but recruitment of patients for new trials, including a high-profile trial of inclisiran, have been impacted.
Novartis CEO Vas Narasimhan outlines how the company is progressing data science and digital transformation across operations, including plans to use predictive analytics to forecast production supply chain runs. The Swiss firm is also monitoring the evolving coronavirus situation closely but has safety stocks for its key products and innovative medicine portfolio and is "okay" for now.