Novartis highlights 2015 growth amid corporate restructuring plans

Novartis has announced its financial results for 2015, highlighting its positive momentum while also outlining plans for imminent restructuring.

The company delivered a net sales total of 49.4 billion (34.48 billion pounds) for the 12 months, which was up by five percent year on year in constant currency terms, although currency trends impacted its bottom line sales total by ten percent.

A four percent sales improvement was seen in the fourth quarter of the year, with a strong performance for its pharmaceuticals division helping to offset the relative weakness of the Alcon division.

To address this, Alcon's ophthalmic pharmaceuticals business will move within the Novartis pharmaceuticals division, while extensive cost-saving and efficiency programmes are to be put in place.

As of February 2016, Mike Ball will succeed Jeff George as division head and chief executive of Alcon, with Vas Narasimhan appointed global head of drug development and chief medical officer, and Andre Wyss appointed president of Novartis operations.

Joseph Jimenez, chief executive officer of Novartis, said: "Across the group, we will further focus our divisions, create even greater innovation by integrating drug development and lower our costs by centralising our manufacturing across divisions."