Swiss Pharma Gets a Taste of Silicon Valley - (Bloomberg via NewsPoints Desk)

  • Novartis CEO Vas Narasimhan has adopted tech industry tools in an effort to speed the development of new therapeutics, Bloomberg reported Thursday.

  • As part of the strategic shift, which has arisen as Novartis seeks to offset the impact of patent expiry on drugs such as Gleevec and Gilenya, digital strategy leader Bertrand Bodson, who was hired last year from Amazon, was recently elevated to Novartis' executive committee.

  • Novartis executive Badhri Srinivasan explained that Narasimhan wants the drugmaker to act "more like a software company," adding "a huge focus within Novartis and with [Narasimhan] is the cultural revolution we need to make."

  • The move by Novartis comes amid greater pushback against the rising prices of new drugs, such as Novartis' $475 000 leukaemia drug Kymriah.

  • "The question is, how does the industry fix itself," questioned Deloitte partner Colin Terry, noting that drugmakers have focused on "the R&D costs, which they can actually control. That's why people are energised by this data-driven and digital model."

  • "We're in an industry today that is desperately crying out for change," commented Srinivasan.

  • FirstWord Reports: Providing insight, analysis and expert opinion on important Pharma trends and challenging issues <Click here>

To read more NewsPoints articles, click here.

Reference Articles