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

January 2, 2013

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. .