US Indian Narasimhan declared New CEO to Swiss Giant Novarti

A proud moment for US Indian Chief Medical officer Vasant Narasimhan at Novartis on Monday as this Swiss giant declared him as new CEO. Vasant Narasimhan will be succeeding Joseph Jimenez its chief executive for the past seven years who will be as said stepping down in 2018.

Vasant Narasimhan has joined Novartis in 2005 the American citizen holds a medical degree. He is of 41 years old and has public policy degree from Harvard. Previously worked for McKinsey and & company is a proud dad of two kids is currently serving as the global head of drug development and chief medical officer at Novartis. He has degree in biological science from University of Chicago.

Vasant Narasimhan an American citizen of Indian origin is youngest labeled among group of new chief at global pharmaceuticals companies. Though in April 48year old Emma Walmsey at London based Glaxo SmithKline becoming the only woman to run one of the world’s largest drug makers. One more is said to be list on young CEO from US David Ricks 50 years of age Indianapolis-based Eli Lilly in January.

Joseph Jimenez 57 years retires end of January said he was happy to return Silicon Valley after spending in Switzerland. Joseph Jimenez is handing over reins at crucial juncture with drug maker yet to make a decision on the future of its ailing Alcon eye care business or its stake in cross town rival Roche Holding reported as ToI. In 2015 Joseph Jimenez reshaped Novartis in such way that company benefited more than$30 billion, before Novartis he was just executive at Heinz.  He has hived off behind animal health, vaccines and over the counter drug business .Novartis under care of CEO Joseph Jimenez had focus on generally more profitable prescription medicines, particularly in cancer. But company hit of as top selling drugs such blood cancer treatment.

Latest achievement marked both Jimenez and Narasimhan when recently company secured US regulatory clearance for $475,000 per patient Kymriah treatment for young people with B-cell acute Lymphoblastic leukemia, new drug in series expects to revive sale growth with start of the year.

Novartis Board conducted through evaluation of internal and external candidates with help executive search firm, Chairman Joerg Reinhardt said Vasant Narasimhan expertise in clinical development and medicine makes him well suited to run Novartis, especially during Alcon has lagged expectations and generics arm while Sandoz has faced intense pressure on prices in the US. Also Vasant Narasimhan is new generation youth leader head researchers Jay Bradner at Novartis Institute for Biomedical Research. Jimenez said to reporters that California waits with new opportunities, this was right time to step down because Novartis is about to enter new phase of growth when company will facing full effect from the patent expirations for Gleevec its bestselling cancer treatment said CEO.

However board have sought to improve company’s way of moving drug from lab into commercial products something they accepted has not always worked efficiently for them as per business reports.