Novartis AG (NVS) Ponders Joint Ventures, Unconventional Deals For Smaller Businesses
1/30/2014 8:09:40 AM
Novartis (NOVN.VX) is looking at options, such as joint ventures, for three smaller businesses to bring them in line with its world-leading pharmaceutical operations, it said on Wednesday, in a review due to be completed by the end of summer. The Basel-based firm has been casting a fresh eye over its operations following the departure of veteran chairman and one-time CEO Daniel Vasella, the architect of the merger of Ciba-Geigy and Sandoz that created Novartis in 1996. While new chairman Joerg Reinhardt has defended the diversified strategy, he says Novartis wants all its businesses to be among world leaders, casting doubt over three sub-scale units: over-the-counter drugs, animal health and vaccines.
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