Novartis CEO to step down, hand over duties to drug development chief: 5 notes

Novartis, a Swiss pharmaceutical company, named its Global Head of Drug Development and CMO Vasant Narasimhan, MD, successor to current CEO Joe Jimenez, who will step down Jan. 31.

Here are five notes on the appointment.  

1. Mr. Jimenez joined Novartis in 2007 and served as CEO since 2010.

2. During his tenure, Mr. Jimenez divested animal health, vaccines and over-the-counter drugs to focus on more profitable prescription medicines, such as those that treat cancer.

3. Mr. Jimenez will be available for advice until he officially retires from Novartis Aug. 31.

4. Dr. Narasimhan will be CEO effective Feb. 1, 2018.

5. Dr. Narasimhan joined the company in 2005 and has held leadership positions in commercial, strategy and drug development roles.

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