Novartis focuses Pharmaceuticals Division by creating two business units, Novartis Pharmaceuticals and Novartis Oncology; appoints leaders to the Executive Committee of Novartis

Novartis International AG / Novartis focuses Pharmaceuticals Division by creating two business units, Novartis Pharmaceuticals and Novartis Oncology; appoints leaders to the Executive Committee of Novartis . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

• Paul Hudson appointed CEO, Novartis Pharmaceuticals, and Bruno Strigini appointed CEO, Novartis Oncology; David Epstein to leave Novartis
   

Paul Hudson and Bruno Strigini appointed to the Executive Committee of Novartis
 

Novartis Pharmaceuticals and Novartis Oncology will form the Innovative Medicines Division at Novartis 

Basel, May 17, 2016 - Novartis announced today changes to focus its Pharmaceuticals Division by creating two business units reporting to the CEO: Novartis Pharmaceuticals and Novartis Oncology. These business units will form the Innovative Medicines Division at Novartis. The leader of each business will join the Executive Committee of Novartis (ECN) effective July 1, 2016. Paul Hudson will be appointed CEO, Novartis Pharmaceuticals and Bruno Strigini will become CEO, Novartis Oncology. Both will report directly to Joseph Jimenez, CEO of Novartis. With these changes, David Epstein, currently Division Head and CEO, Novartis Pharmaceuticals, has decided to leave Novartis. 

The new structure reflects the importance of oncology to Novartis following the successful integration of the oncology assets acquired from GSK. Novartis expects this change to help drive our growth and innovation strategy, with an increased focus and improved execution for both the Novartis Oncology and Novartis Pharmaceuticals business units.

Paul Hudson, currently Executive Vice President, North America and member of the Executive Committee, AstraZeneca, will join Novartis and lead Novartis Pharmaceuticals. Prior to his role in North America, Paul Hudson served as the leader of AstraZeneca's Japanese business. Novartis Pharmaceuticals will include the franchises Neuroscience, Ophthalmology, Immunology and Dermatology, Respiratory, Cardio-Metabolic and Established Medicines. Mr. Hudson has broad pharmaceutical industry experience and in particular in cardiovascular and immunology, which complement Novartis' major product launches. He will be based at the global headquarters of the Innovative Medicines Division and the Novartis Pharmaceuticals business unit, which will be in Basel, Switzerland.