BASEL – Novartis announced this week that Richard Francis will be stepping down as chief executive officer of Sandoz, a Novartis division, and as a member of the executive committee of Novartis on March 31. Francesco Balestrieri, currently region head Europe, Sandoz, has been appointed ad-interim CEO Sandoz. He will report to Vas Narasimhan, CEO, Novartis.
LONDON and BASEL, Switzerland — GlaxoSmithKline plc plans to buy Novartis’ 36.5% stake in their consumer health care joint venture for $13 billion. Under the agreement announced Tuesday, Novartis’ shares in the joint venture will be canceled, and the joint venture will pay the buyout price to Novartis. GSK has entered into a committed facilities agreement to