Vas Narasimhan, a 43-year-old doctor and Novartis's CEO, has been shaking things up at one of the world's biggest pharmaceutical companies.
The new CEO has led more than $60 billion in deals over about 18 months, with more to come. In an interview, Narasimhan said his company plans to devote roughly $12 billion to deals, and he identified two key areas of focus.
"I aspire for us to target on the order of 5% of our market cap in M&A, focused in either building therapeutic area depth or building out new technology platforms," Narasimhan told Business Insider on Thursday.Read more: Pharma giant Novartis has been on a tear. CEO Vas Narasimhan told us how wearing jeans to work is helping transform the Swiss company.
Narasimhan started as CEO of Novartis, one of the world's biggest pharmaceutical companies, in February 2018. The 43-year-old is the youngest CEO of a major drugmaker. A Harvard-trained physician, he had previously led Novartis's drug development around the world and been chief medical officer.on Thursday, increasing its 2019 sales expectations and reporting growth in its core operating income, the stock advanced.
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