Vas Narasimhan, Novartis CEO (Jason Alden/Bloomberg via Getty Images)

No­var­tis CEO Vas Narasimhan re­struc­tures the phar­ma gi­ant, cut­ting costs $1B+, oust­ing top ex­ecs and sig­nal­ing lay­offs ahead

No­var­tis CEO Vas Narasimhan has a plan to make the glob­al phar­ma gi­ant more prof­itable. And he’s start­ing by carv­ing out a bil­lion dol­lars-plus in costs in a move that sig­nals job cuts from the top team on down.

The cen­ter­piece in this re­struc­tur­ing in­volves the com­bi­na­tion of the phar­ma­ceu­ti­cals and on­col­o­gy busi­ness in­to one unit, dubbed the In­no­v­a­tive Med­i­cines group. The IM group will be di­vid­ed in­to two di­vi­sions cen­tered on the crit­i­cal US mar­ket and in­ter­na­tion­al ops. Marie-France Tschudin is trad­ing in her old ti­tle as head of No­var­tis Phar­ma­ceu­ti­cals to be­come pres­i­dent, In­no­v­a­tive Med­i­cines In­ter­na­tion­al and chief com­mer­cial of­fi­cer.

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