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Home Industry News Novartis launches ‘Forward’ initiative

Novartis launches ‘Forward’ initiative

13th December 2007

Novartis has announced the launch of its new ‘Forward’ initiative which is intended to enhance productivity and simplify organisational structures within the company.

The pharmaceutical firm has stated that the new strategic initiative will allow it to better meet the needs of patients and customers in a dynamically changing healthcare environment.

Concerning its organisational structure, Novartis has confirmed that it will remove excessive legal processes, focus on core activities and capture growth in emerging markets.

Novartis have indicated that initiatives are expected to generate pre-tax annual cost savings of $1.6 billion (780 million pounds).

Around 2,500 full-time positions (2.5 per cent of its total workforce) are also set to be reduced worldwide with the bulk of reductions expected to arise through normal staff fluctuation.

Dr Daniel Vasella, chairman and chief executive officer of Novartis, highlighted that the company had experienced strong growth in the last ten years which gave the firm a “unique position” to achieve further success.

“Forward will increase speed and productivity in anticipation of accelerating growth in the second half of 2008,” he confirmed.

Also this week, Novartis announced new data showing that Glivec (imatinib) can stop progression into the advanced stages of leukaemia in the sixth year of treatment.

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