Novartis is ‘most admired pharmaceutical company’

Novartis has been ranked the most admired pharmaceutical firm in the world in the recently published results of the annual most admired companies survey from Fortune magazine.

The ranking is based on a questionnaire of 1,500 financial analysts and executives from the pharmaceuticals industry, with companies being assessed in nine different categories, from financial soundness and management quality to innovation and the quality of products and services.

Novartis notes that its ranking has improved steadily over the past four years, rising from seventh in 2003 to its current position.

Ann Bailey, head of corporate communications at Novartis, said: “We are pleased with this recognition from within the industry because it demonstrates respect from our peers.”

She added that this recognition extended not only to the company’s financial performance and strong innovation, but also to aspects including corporate citizenship and commitment to patients.

Earlier this month, Novartis announced that its shareholders had approved all the resolutions at its annual general meeting for 2007.

These resolutions including a 17 per cent increase in the dividend payment for 2006, in addition to the election of Marjorie Yang to the board of directors and the re-election of Daniel Vasella and Hans-Joerg Rudloff.