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Home Industry News Novartis CEO expresses confidence in tackling industry challenges

Novartis CEO expresses confidence in tackling industry challenges

2nd January 2013

Novartis' chief executive officer (CEO) Joseph Jimenez has voiced confidence that the company will continue to thrive despite challenging conditions in the pharmaceutical industry and world economy.

In an interview with the Wall Street Journal, the business leader noted that since his appointment as CEO in 2010, Novartis has made efforts to streamline internal processes and move towards an outcome-based approach to add value beyond simply selling medications.

He said he believes that in the future drug companies are likely to be paid based on patient outcomes as opposed to selling pills, a transition that Novartis is well-positioned to cope with, while efforts are also being made to show customers that its drugs can lower healthcare costs.

Mr Jimenez also had a word of advice for the industry as a whole, saying companies need to spend more money on research and development to "ensure that there is going to be a continuous flow of innovation".

This comes after it was recently announced that the manufacturer has been granted European regulatory approval for Exjade, its new therapy for iron overload in patients with non-transfusion-dependent thalassaemia.ADNFCR-8000103-ID-801515043-ADNFCR

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