Novartis CEO: Industry needs more R&D, less sales and marketing, WSJ reports

Novartis (NVS) CEO Joseph Jimenez, in an interview with the Wall Street Journal, said the pharmaceutical industry needs to spend more money on R&D and less on sales and marketing. We've started to "shift our business away from a transactional model that was focused on physically selling the drugs to delivering an outcome-based approach to add value beyond just the pill. I really believe that in the future, companies like Novartis are going to be paid on patient outcomes as opposed to selling the pill," he said. .