Novartis pharma head Epstein steps away, most recent loss in string of top-level turnovers
Last week, Novartis pharmaceuticals head David Epstein quit as his division was split up. Earlier in the month, U.S. country head Christi Shaw left the company as well.
In January, Alcon head Jeff George left as sales for the division continued to fall. Two months ago, medical affairs global head Ameet Nathwani jumped ship to rival Sanofi.
Chief ethics officer Eric Cornut is set to leave after 27 years with the company. Novartis Institute for Biomedical Research director Mark Fishman is retiring, as well as oncology research head William Sellars.
“After years of empire building … that’s what investors want. Clearly, the future of that company will be about specialized drugs, high-value drugs, so they can face up to what is the challenge in this industry: price deflation and price pressure,” Novartis investor and Jupiter Asset Management fund manager Cedric de Fonclare said in a press release.