Joe Jimenez [pictured], chief executive of the pharmaceuticals giant stressed continuity between Vasella and his replacement, Jorg Reinhardt, who will formally assume the role in August.
Jimenez said the company was continuing to seek efficiencies including a further $1bn in savings this year from its $20bn annual procurement budget, and growth in emerging markets.
He is also reported to have downplayed the possibility of buybacks by arguing that Novartis remained open to “bolt-on acquisitions” of $2bn-$4bn each, according to the Financial Times.
Novartis is attempting to cut costs against a backdrop of pricing pressure, while simultaneously strengthening its position across key product markets and into new geographies.
“I would not anticipate a lot of change,” Jimenez told a press briefing.
