3.12 lakh crore company commanded by this Indian

3.12 lakh crore company commanded by this Indian

3.12 lakh crore company commanded by this Indian

  • News18No
  • Last Updated:September 5, 2017, 11:09 AM IS

One of the leading pharmaceutical companies of Switzerland has been given the command of a Novartis in the hands of an Indian. The company has announced the appointment of Vasant Narasimhan of Indian origin as its next CEO. He will succeed Joseph Jimenez, CEO of the company for 8 years. Let us tell you that along with the news of Jimenez’s retirement, the company’s shares fell in the Zurich stock market. Novartis shares closed down 0.7 per cent. Currently, the company’s market value is around Rs 3.12 lakh crore.

Narasimhan becomes youngest CEO
Narasimhan, an American citizen of Indian origin, is the youngest CEO among all global pharmaceutical companies. Apart from them, in April this year, Emma Walsley, 48, was commanded by London-based drug maker GlaxoSmithKline.

Vasant will take charge from February 1 Novartis issued a statement saying that Vasant will take over the company from February 1, 2018. Jimenez, 57, is retiring at the end of January. At present, 41-year-old Narasimhan has so far been the responsibility of the company’s Chief Medical Officer and Global Head of the Drug Development Department. He is also a member of the executive committee of the company. On Vasant Narasimhan, the challenge will be to develop new drugs and sell underperforming assets.

This is a big challenge for spring

Vasant Narasimhan is getting the responsibility of the company at such a time. When this giant Swiss firm is in a dilemma about the future of its eye care business.

According to media reports Jimenez said, I have been the CEO of the company for 8 years. I am very clear about this that no CEO should hold office for longer than this.

Who are Vasant Narasimhan
Vasant Narasimhan has become a doctor from Harvard Medical School. In 1970, his father arrived in the US from Tamil Nadu. In 2005, Vasant joined Novartis. Prior to this he was employed with McKenzie & Company.

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