Vas Narasimhan reveals a disappointing outlook for Novartis' generics unit, while laying out the pharma's M&A strategy
As Novartis CEO Vas Narasimhan figures out exactly what he wants to do with Sandoz, the company revealed in its Q4 report that US sales for the generics unit are expected to continue on a downhill slide in the new year — potentially putting a damper on the prospects of a buyout.
Narasimhan says he’ll wrap up his strategic review of Sandoz and make a decision by the end of the year at the latest. Meanwhile, he laid out the company’s M&A strategy going into 2022, as public stocks tumble and all signs point to a Big Pharma M&A hunt this year.
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