Novartis delivered solid sales growth, margin expansion and pipeline progress in 2014, according to a January 27 news release which also indicated portfolio transformation will focus the company on leading business.
Net sales and operating income both increased by 1% in 2014 to USD 58 billion and USD 10.7 billion respectively. Net income grew by 12% to USD 10.3 billion.
Growth products and Emerging Growth Markets continued to drive performance in 2014 Q4 with an increase of 14% to USD 4.7 billion, or 32% of Group net sales. Novartis also saw continued progress in transforming portfolio and increasing productivity with its divestment of Animal Health Division to Eli Lilly and Company, which completed on January 1, 2015.
Showing posts with label Novartis. Show all posts
Showing posts with label Novartis. Show all posts
28 January 2015
08 October 2014
Changes to the Novartis Executive Committee after expected completion of portfolio transactions
Three members of the Executive Committee of Novartis to leave company, following completion of portfolio transactions expected to close in first half 2015
Basel, October 8, 2014 - Novartis confirmed today that following completion of the transactions with GlaxoSmithKline (GSK) and Eli Lilly and Company (Lilly) in the coming months, that the three business leaders of the Novartis divisions at the center of the transaction will leave the Executive Committee of Novartis (ECN). The expected changes to the ECN are subject to the closing of the transactions announced on April 22nd 2014 - Novartis expects the transaction with GSK to be completed in the first half of 2015, and the transaction with Eli Lilly for its Animal Health Business to close in the first quarter of 2015.
George Gunn, currently Division Head, Novartis Animal Health, will reach his contractual retirement age in July 2015 and will retire from Novartis. Upon closing of the Animal Health transaction with Lilly he will leave the ECN.
Brian McNamara, currently Division Head, Novartis OTC, will transition to GSK as Head of Americas and Europe for the consumer health businesses, reporting to the President of GSK Consumer Healthcare, effective at closing of the transaction.
Andrin Oswald, currently Division Head, Novartis Vaccines, will be leaving Novartis to pursue other opportunities following closing of the transaction with GSK.
23 April 2014
Eli Lilly and Co. to buy Novartis animal health assets
Following a strategic review of assets, Novartis announced yesterday it is selling its animal health unit to Eli Lilly and Co. for $5.4 billion. The transaction will strengthen and diversify Lilly's own animal Health business, Elanco. Upon completion of the acquisition, Elanco will be the second largest animal health company in terms of global revenue.
Lilly Chairman, President and CEO, John C. Lechleiter, said the acquisition of Novartis Animal Health validates Lilly's commitment to Elanco as a key component of Lilly's business going forward.
"Animal health continues to represent an attractive growth opportunity for Lilly. We intend to keep Elanco and to take advantage of the substantial synergies between our animal health and human health businesses," said Lechleiter. "Global trends suggest continued sustained demand for animal health products in the years ahead... we intend to create value for our shareholders through a larger commercial footprint, and improving efficiencies and lowering costs."
Lilly said it plans to fund the deal with about $3.4 billion of cash on hand and borrow $2 billion.
Separately, Novartis said it agreed to buy Britain's GlaxoSmithKline PLC (GSK) oncology products for $14.5 billion in milestone payment. Both moves are part of Novartis' effort to unload smaller business units and focus on areas where the company can lead the market.
Lilly Chairman, President and CEO, John C. Lechleiter, said the acquisition of Novartis Animal Health validates Lilly's commitment to Elanco as a key component of Lilly's business going forward.
"Animal health continues to represent an attractive growth opportunity for Lilly. We intend to keep Elanco and to take advantage of the substantial synergies between our animal health and human health businesses," said Lechleiter. "Global trends suggest continued sustained demand for animal health products in the years ahead... we intend to create value for our shareholders through a larger commercial footprint, and improving efficiencies and lowering costs."
Lilly said it plans to fund the deal with about $3.4 billion of cash on hand and borrow $2 billion.
Separately, Novartis said it agreed to buy Britain's GlaxoSmithKline PLC (GSK) oncology products for $14.5 billion in milestone payment. Both moves are part of Novartis' effort to unload smaller business units and focus on areas where the company can lead the market.
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