Novartis looks for businesses to achieve scale, WSJ reports

theflyonthewall.com

Novartis wants no part of former chairman Daniel Vasella, whose controversial exit package hurt the pharmaceutical company's image when he left a year ago, reports the Wall Street Journal. It has been taking apart what he built. In November, Novartis sold mos of its diagnostics business to a Spanish company, and then said it was dropping plans to build a training center outside Zurich. The company also has disbanded two board subcommittees established to oversee its finances. CEO Joe Jimenez says more changes are on the way as Novartis focuses on businesses where it can achieve scale.

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