Novartis CEO Jimenez Highlights OTC Switches, Consumer Acquisitions
This article was originally published in The Tan Sheet
Incoming Novartis CEO Joe Jimenez plans to expand the Swiss firm's consumer health division over the next few years after he takes the reins from his predecessor Daniel Vasella
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Novartis gives its OTC unit a direct line to the chief executive in an organizational realignment designed to strengthen and streamline the consumer businesses.
P&G's Lafley joins private equity firm: Clayton, Dubilier & Rice welcomes former Procter & Gamble CEO A.G. Lafley as a special partner, the firm said April 7. Lafley held various positions with P&G for 32 years, including CEO for nine years, before retiring in 2009. "His experience building strong business operations, promoting innovation, and spurring growth across global markets enhances our value-creation capabilities," said CD&R President and CEO Donald J. Gogel. Lafley said he was attracted to CD&R because of its "successful history of building long-term value by improving the operational performance of its portfolio businesses exemplifies the positive role that private equity can play in the economy." Among the firm's diverse investments are companies in fields matching Lafley's industry-specific experience, such as Sally Beauty Holdings
Novartis will launch the OTC proton pump inhibitor Pantoloc Control (pantoprazole 20 mg) in 14 European countries in the second quarter of 2010 under a co-marketing agreement with the product's originator Nycomed