Rocky Times for Novartis AG as CEO Faces Battle to Restore Confidence in Investors
Joe Jimenez is facing a battle to restore investor confidence in Novartis, after a series of setbacks which have sent shares in the Swiss pharma group down more than a quarter in the past year.
Weak sales of a new heart drug have combined with problems in its Alcon eyecare business, to create arguably the rockiest period for Mr Jimenez since the American took charge six years ago.
Legal risks have added to the gloom, as Novartis faces investigation for suspected marketing abuses in the US, South Korea and Turkey on top of recent cases in Japan and China.
Weak sales of a new heart drug have combined with problems in its Alcon eyecare business, to create arguably the rockiest period for Mr Jimenez since the American took charge six years ago.
Legal risks have added to the gloom, as Novartis faces investigation for suspected marketing abuses in the US, South Korea and Turkey on top of recent cases in Japan and China.