|Seat||Basel , Switzerland|
Vasant Narasimhan (Chief Executive Officer , since February 2018)
Jörg Reinhardt ( Chairman of the Board of Directors )
|Number of employees||103.914|
|sales||$ 47.4 billion (2019)|
|Branch||Biotechnology , pharmacy|
|As of December 31, 2019|
The Novartis AG (presumably derived from the Latin nova ars "new art") is a biotechnology - and pharmaceutical companies based in the Swiss Basel . Novartis was created in 1996 from a merger of the two Basel pharmaceutical and chemical companies Ciba-Geigy AG and Sandoz AG .
Novartis is one of the largest pharmaceutical companies in the world with sales of USD 47.4 billion in 2019. In the Forbes Global 2000 of the world's largest companies, Novartis ranks 63rd (as of FY 2018). The company had a market value of just over USD 200 billion in 2018, making it one of the most valuable in Europe. Main growth supplements are: Cosentyx ( secukinumab ), Entresto ( sacubitril ), and Zolgensma ( Onasemnogene abeparvovec-xioi ).
Novartis can be traced back to several Basel companies, all of which were involved in the production of aniline dyes from tar in the 19th century . In addition to the Rhine , which could be used for service water and the disposal of solid and liquid waste, the presence of dye works, well-developed international trade, local capital and a sufficient supply of labor were important location factors for the development of Basel's dyestuffs industry. The first chemists and the know-how for dye production came from France. With the exception of Hoffmann-La Roche , all Basel pharmaceutical companies with roots in the 19th century go back to the tar paint production and merged over several stages to form Novartis.
In 1758, Johann Rudolf Geigy-Gemuseus (1733–1793) began trading “materials, chemicals, dyes and remedies of all kinds” in the Basel area. In 1857 Johann Rudolf Geigy-Merian (1830–1917) and Johann Jakob Müller-Pack (1825–1899) set up a colored wood and a color extraction plant at the Riehenteich ( Rosental Quarter ) and began producing synthetic fuchsin two years later .
In 1901 his company became a stock corporation and was called JR Geigy AG from 1914 . Geigy began manufacturing insecticides in 1935 and established a pharmaceutical division three years later. The new Schweizerhalle plant was built, and Geigy researcher Paul Hermann Müller discovered the insecticidal effects of DDT , for which he received the Nobel Prize in 1948 . Developed in the 1940s to 1960s Geigy different products, including the anti-inflammatory drug phenylbutazone (Butazolidin) herbicides such as simazine or atrazine , psychotropic drugs such as imipramine (Tofranil) or clomipramine (Anafranil), high blood pressure such as the diuretic chlorthalidone (Hygroton) or the antiepileptic Carbamazepine (Tegretol; trademark in Germany: Tegretal).
From 1948 the biochemist, hygienist and bacteriologist Julius Hirsch was one of the most important pharmaceutical chemists at Geigy .
Alexander Clavel (1805–1873) began producing fuchsin in his silk dye works in Basel in 1859 . In 1864, the city's environmental regulations forced him to move production from Rebgasse in Kleinbasel's old town to a newly built factory for synthetic dyes on Klybeckstrasse. He sold this production facility to the new Bindschedler & Busch in 1873 in order to devote himself entirely to silk dyeing again. In 1884 the company was in company of C hemical I ndustry Ba sel renamed. Its abbreviation Ciba became so common that it was declared the official company name in 1945.
The aniline dyes factory, formerly A. Gerber & Cie., Originally founded by the Mülhausen chemist Armand Gerber in 1864 as the aniline dyes factory A. Gerber & Uhlmann . was integrated in 1898 and added to the factory area on Klybeckstrasse. In 1908, the company merged with the Basler Chemische Fabrik with plants in Kleinhüningen ( Canton Basel-Stadt ) and Monthey ( Canton Valais ). After products such as the antiseptic Vioform or the anti-rheumatic agent Salen around the turn of the century, Ciba built factories in Clayton ( England ), Milan ( Italy ), Berlin and Russia around the 1910s . 1954 began with the production of insecticides. In 1963 deferoxamine (Desferal) came on the market to treat iron and aluminum overload associated with the blood disease thalassemia .
In 1963, CIBA began acquiring Ilford shares and, after taking over the ICI shares, became the sole shareholder in the British company from 1967 to 1969. This also made CIBA a photography company. CIBA sponsored and took over the commercialization of the large television projector Eidophor by Edgar Gretener .
1970 Ciba and JR Geigy AG merged to form Ciba-Geigy AG ; from 1992 the company appeared as Ciba .
In 1886 Alfred Kern (1850–1893) and Edouard Sandoz (1853–1928) founded the chemical company Kern & Sandoz in the St. Johann quarter on Gasstrasse in Basel. The first dyes made there were alizarin blue and auramine . After Kern's death in 1895, the partner company was converted into the stock corporation Chemische Fabrik formerly Sandoz , and in the same year the antipyretic agent phenazone (antipyrine) was manufactured. In 1899 the production of the sweetener saccharin started. Pharmaceutical research began in 1917 under Arthur Stoll (1887–1971). Gynergen (1921) and Calcium-Sandoz (1929) were then brought onto the market between the two world wars . Since 1929 Sandoz has also manufactured chemicals for textiles, paper and leather, and in 1939 agrochemicals were also added. In the 1930s the psychotropic drug LSD was developed, which was withdrawn again in the 1960s .
Construction of the Schweizerhalle plant on Rothaustrasse in Muttenz began in 1946. In 1964 the first foreign branches were founded. In 1967 Sandoz merged with Wander AG (known for Ovomaltine and Isostar ) and also took over Delmark , Wasa ( crisp bread manufacturer from Sweden) and in 1994 Gerber baby food from the USA .
Chemical disaster of November 1, 1986
On November 1, 1986, a fire disaster occurred in a Sandoz warehouse in Schweizerhalle near Basel . Around 1,300 tons of chemicals went up in flames. Some of the extinguishing water contaminated with insecticides, among other things, ended up in the Rhine. During the extinguishing work, Ciba-Geigy AG, which was still independent at the time, discharged 400 kg of the highly toxic herbicide atrazine into the Rhine. A large part of animal and vegetable life was destroyed there. It took years for the river to recover. The accident was considered to be one of the greatest environmental disasters to have occurred and shattered belief in the safety of the chemical industry. At the same time, it was an occasion to rethink accident and water protection . In 1995 the specialty chemicals division became an independent company under the name Clariant AG, based in Muttenz . The former Schweizerhalle plant on Rothausstrasse in Muttenz no longer belongs to Sandoz.
A landfill has remained on the Sandoz fire site in Schweizerhalle. It contains pollutants from the major fire of November 1, 1986. More fire pollutants are still getting into the groundwater than agreed between Sandoz and the authorities in 1989/90.
In 1996, Ciba-Geigy AG and Sandoz became the Novartis company . At that time it was the largest corporate merger in the world.
Developments since the merger
In 1997, the chemicals division was spun off as a separate company under the name of Ciba Specialty Chemicals AG, based in Basel. With the outsourcing of the industrial chemicals business , which also includes the dyes, Novartis finally left its historical roots.
In 1999 the agricultural sector was spun off and merged with the agricultural division of AstraZeneca . The newly created company Syngenta , based in Basel, in which Novartis hold 61% and AstraZeneca 39% of the shares, will become the world's largest agricultural group .
Also in 1999 the Wasa division was sold to Barilla Alimentare SpA, based in Parma / Italy, and the health food brand Eden to De-Vau-Ge Gesundkostwerk GmbH in Lüneburg. On October 8, 2002, Novartis announced the sale of its beverages division ( Ovomaltine , Caotina ) to Associated British Foods for € 272.5 million . On December 16, 2003, Novartis bought the adult medical nutrition business from Mead Johnson (then a subsidiary of Bristol-Myers Squibb ) for $ 385 million ; however, on December 14, 2006, the medical nutrition division was sold to Nestlé for around CHF 3 billion , and in April 2007 the Gerber baby food division was also sold to Nestlé for USD 5.5 billion.
Pharma core business
On August 31, 2000, Novartis acquired the two antiviral drugs Famvir ( famciclovir ) and Vectavir / Denavir ( penciclovir ) for 1.63 billion dollars, which their previous owner SmithKline Beecham had to sell on instructions from the antitrust authorities in the course of its merger with Glaxo Wellcome .
On March 27, 2007, Novartis sold its biotechnological production facilities for the multiple sclerosis drug Betaferon ( interferon beta-1b ) in the United States to Bayer AG for $ 200 million, thereby settling a legal dispute between the two companies.
In 2008, Novartis took over a 52% stake in its Tekturna research partner Speedel Holding for 907 million Swiss francs and then submitted a takeover offer for all outstanding Speedel shares on the same terms.
In October 2008, Nektar Therapeutics acquired its lung medicine business for $ 115 million in cash.
In 2009, Novartis rounded off its cardiovascular therapy product portfolio by acquiring the American biopharmaceutical company Corthera for $ 120 million in cash plus up to $ 500 million for milestone payments.
In 2010, Novartis sold the US rights to the drug Enablex for $ 400 million to the Irish pharmaceutical company Warner Chilcott (now a subsidiary of Allergan), and in 2011 the rights to the drug Elidel to Meda for $ 420 million .
In January 2011, Novartis bought Genoptix, a US cancer diagnostics company, for $ 470 million.
On July 1, 2015, Novartis acquired the American-Australian company Spinifex Pharmaceuticals, a drug ( angiotensin II receptor EMA401 ) for peripheral neuropathic pain , for $ 200 million in cash plus milestone payments.
On October 21, 2015, Novartis strengthened its immuno-oncology pipeline with the acquisition of US biotech company Admune Therapeutics and two licensing agreements with Palobiofarma and XOMA Corporation.
In 2018 Novartis bought the Chicago company AveXis for $ 8.7 billion. AveXis developed the drug Zolgensma for the treatment of spinal muscular atrophy , for which Novartis received approval in the USA in May 2019.
On December 4, 2000, Novartis took over all six European generics subsidiaries of the German chemical company BASF for 115 million euros ; on December 15, 2000 followed the purchase of the US rights to the orally administered and injectable antibiotics of the US company Apothecon, a generics division of its competitor Bristol-Myers Squibb .
In 2003, Novartis merged its generics companies (including the Slovenian company Lek, which was acquired in 2002 for 1.19 billion francs ) under the name Sandoz to form a subgroup with headquarters in Vienna ; Since then, Sandoz has again been visible to consumers as a brand name.
In 2004, the Canadian generic drug manufacturer Sabex ( injection drugs) was bought for $ 565 million. In the same year Sandoz bought its British competitor AstraZeneca from its Danish subsidiary Durascan A / S, which is responsible for generics.
After the takeover of the German generics manufacturer Hexal and a 66% stake in the US company Eon Labs for a total of 5.65 billion euros in cash, Novartis moved the Sandoz headquarters to the Hexal site in Holzkirchen in 2005 .
On May 20, 2009, Sandoz announced the acquisition of the generics business of EBEWE Pharma , an Austrian manufacturer of injectable cancer drugs, for 1.4 billion Swiss francs in cash.
In the summer of 2010, Sandoz bought Oriel Therapeutics , a manufacturer of generic alternatives to patented drugs for asthma and chronic obstructive pulmonary disease , for $ 74 million in cash and up to $ 258 million on certain milestones.
On May 3, 2012, the division was further expanded with the acquisition of the dermatology provider Fougera , based in Melville, New York, for $ 1.525 billion.
On October 4, 2000, the Novartis subsidiary Ciba Vision Corporation completed the takeover of the American contact lens manufacturer Wesley Jessen VisionCare, Inc. , based in Des Plaines, Illinois, and acquired 17.5 million shares at $ 38.5 each ( = $ 676 million).
In 2008, Nestlé sold a 24.8% stake in eye care company Alcon for $ 10.4 billion to Novartis, with an option to purchase the remaining 52% of Alcon owned by Nestlé. In 2010, that remaining 52% was acquired for an additional $ 28.3 billion. In December 2010, Novartis acquired all of the outstanding Alcon shares for $ 12.9 billion, bringing the cost of the Alcon acquisition between 2008 and 2010 to $ 51.6 billion.
The existing contact lens business Ciba Vision was merged with Alcon to form the new Alcon Vision Care division .
On June 29, 2018, Novartis announced that it would spin off Alcon and bring it to the SIX Swiss Exchange and the New York Stock Exchange . The IPO finally took place on April 9, 2019. On the following day, Alcon was included in the Swiss Market Index (SMI).
Vaccines and diagnostics
In 1994, Novartis' predecessor, Ciba-Geigy, acquired a 49.9% stake in Chiron Corporation (biopharmaceuticals, vaccines and blood tests), which fell to 42.3% in the following years. On September 1, 2005, Novartis offered $ 40 for each outstanding Chiron share, increasing the bid to $ 45 per share and then to $ 48 per share on April 4, 2006, costing the Chiron acquisition $ 5.4 billion.
On July 23, 2007, Novartis entered into a strategic partnership with the Austrian vaccine developer Intercell AG for EUR 270 million plus milestone payments of up to around EUR 100 million , which included the acquisition of 4.8 million new Intercell shares without voting rights and the granting of Includes license access and product options (including for the use of Intercell's IC31 adjuvant in new influenza vaccines ).
The Marburg-based vaccines and diagnostics division, Novartis Vaccines and Diagnostics, produces flu vaccines and develops meningococcal vaccines . In 2008, Novartis Marburg was on a secret US list of essential facilities because of the production of vaccines against rabies .
On November 4, 2009, Novartis announced the acquisition of an 85% stake in the Chinese company Zhejiang Tianyuan , a manufacturer of vaccines against viral and bacterial diseases, for $ 125 million.
Prescription Free Drugs
On February 12, 2003, Novartis announced the sale of the US rights to the butalbital -containing headache medicines Fioricet and Fiorinal to the US company Watson Pharmaceuticals for 178 million dollars.
On July 15, 2005, Novartis bought its US competitor Bristol-Myers Squibb for $ 660 million, the North American rights for the manufacture and marketing of its non-prescription drugs.
Transformation of the business model
On April 22, 2014, Novartis announced a major renovation through a swap deal: the company took over the cancer drugs from GlaxoSmithKline (GSK) for a total of 16 billion US dollars , in return there were 7.1 billion dollars plus a share in sales for the Novartis vaccines (excluding influenza - Vaccines that were sold to Australian CSL Limited for $ 275 million ). Eli Lilly took over the veterinary drug division for $ 5.4 billion. The swap deal with GSK was concluded on March 2, 2015.
Novartis brought its OTC business into a new joint venture with GSK called GSK Consumer Healthcare . Novartis' stake in GSK Consumer Healthcare is 36.5%.
On August 21, 2015, Novartis acquired all rights to the monoclonal antibody ofatumumab from GSK for its (not yet approved) use against multiple sclerosis (the rights relating to cancer were already included in the previous swap) for a payment of $ 300 million; if approved, additional payments will be due, which can increase the total to over a billion dollars.
On May 17, 2016, Novartis announced that it would spin off its cancer drugs business as a new, separate Novartis Oncology business from its prescription drugs business; Head of division David Epstein is leaving the company as part of the reorganization, the two division heads will be Bruno Strigini for Novartis Oncology and Paul Hudson (previously at AstraZeneca) for Novartis Pharmaceuticals.
On May 7, 2001, Roche's major shareholder Martin Ebner sold his 20% block of shares to Novartis for 4.8 billion Swiss francs. At the beginning of 2003, Novartis announced that it had increased its voting rights in its competitor Roche from 21.3% to 32.7% for 2.9 billion Swiss francs. Novartis now owns almost a third of Roche's 160 million bearer shares , in addition to which there are, however, 702.5 million non-voting profit participation certificates .
Novartis has been paying its shareholders a steadily increasing dividend for several years. For the past 2018 financial year, Novartis increased the dividend to CHF 2.85 (previous year dividend: CHF 2.80). This makes Novartis one of the few listed companies in the world that has been able to increase its dividend for more than 15 years in a row.
From April 21, 1999 until the beginning of 2010, Daniel Vasella was CEO and also Chairman of the Board of Directors . His successor as CEO was Joseph Jimenez . Vasella remained Chairman of the Board of Directors. At the Annual General Meeting on February 22, 2013, Vasella did not stand for re-election to the Board of Directors. His successor on the board of directors and as chairman of the board of directors was Jörg Reinhardt on August 1, 2013 ; until then, Vasella's deputy member of the board of directors Ulrich Lehner took over the management of the body. Vasella has been appointed Honorary Chairman of the Board of Directors. The former Chairman of the Board of Directors Alex Krauer has been Honorary Chairman since 1999 .
The new CEO since February 1, 2018 is Vasant (Vas) Narasimhan , who replaced Joe Jimenez.
At the beginning of 1970 the Sandoz Research Institute (German abbreviation: SFI, English abbreviation: SRI) was founded in Vienna , Austria , which after the merger of Sandoz with Ciba-Geigy in 1996 became the Novartis Research Institute (German abbreviation: NFI, English abbreviation : NRI) was renamed. This research institute became part of the Novartis Institute for Biomedical Research (NIBR) founded in 2003.
The research institute, which employed around 220 people, was closed in mid-2008 as part of a reorganization. From July to October 2013 all buildings in Vienna-Liesing were demolished.
Novartis Austria GmbH is the national holding company of Novartis in Austria and is based in Vienna , Leopoldstadt . As Country President, George Zarkalis heads the Austrian Novartis Group, which operates with the following companies:
- Novartis Pharma GmbH incl. Vaccines and dermatology research unit
- Sandoz GmbH
- Alcon Ophthalmika GmbH
- Novartis Consumer Health-Gebro GmbH
- Novartis Animal Health GmbH
With more than 4,000 employees, Novartis is Austria's largest pharmaceutical company and achieved a total value added of € 1.22 billion in Austria in 2011. This corresponds to 0.4% of the total gross domestic product in Austria. Novartis directly creates around 4,100 jobs, indirectly resulting in almost 8,800 jobs in Austria. Every four hundredth employee in Austria works directly or indirectly for Novartis.
Products on the market
Novartis sells a wide variety of prescription and non-prescription products and animal health supplements. Here is a selection of well-known drugs :
- Aclasta ( zoledronate ), used to treat osteoporosis
- Aimovig ( erenumab ), used to treat migraines
- Beovu ( brolucizumab ), used to treat macular degeneration
- Diovan ( valsartan ), CoDiovan (valsartan plus hydrochlorothiazide ), used to treat high blood pressure
- Cosentyx (secukinumab) treatment of psoriasis, psoriatic arthritis, and ankylosing spondylitis
- Elidel ( pimecrolimus ) for the treatment of neurodermatitis
- Entresto ( valsartan , sacubitril ), used to treat heart failure
- Exelon ( rivastigmine ), used to treat Alzheimer's disease
- Exforge ( valsartan , amlodipine ), used to treat high blood pressure
- Exforge HCT ( valsartan , amlodipine , hydrochlorothiazide ), used to treat high blood pressure
- Extavia ( beta interferon ), used to treat multiple sclerosis
- Femara ( letrozole ), used to treat breast cancer
- Gilenya ( fingolimod ), used to reduce flare-ups from multiple sclerosis
- Glivec ( imatinib ), used to treat leukemia
- Insidon ( opipramol ), used to treat depression, restlessness, and anxiety
- Interceptor ( milbemycin ) against worm diseases in dogs and cats
- Kymriah ( Tisagenlecleucel ), a CAR-T-cell therapy agent for acute lymphoblastic leukemia (ALL)
- Mayzent ( siponimod ) for the treatment of secondary progressive multiple sclerosis (SPMS)
- Mono-Embolex ( certoparin sodium ) for thrombosis prevention
- Onbrez ( indacaterol ), used to treat COPD
- Rasilez ( aliskiren ), used to treat high blood pressure
- Revolade ( Eltrombopag ), used to treat idiopathic thrombocytopenic purpura (ITP)
- Ritalin ( methylphenidate ), used to treat attention deficit disorder
- Sandimmun ( ciclosporin ) to prevent transplant rejection
- Seebri ( glycopyrronium bromide ), used to treat COPD
- Ultibro ( glycopyrronium bromide , indacaterol ), used to treat COPD
- Voltaren ( diclofenac ) for use in pain or inflammation
- Xolair ( omalizumab ) for use in asthma therapy
- Zolgensma ( Onasemnogene abeparvovec-xioi ) for ( gene therapy ) of spinal muscular atrophy
- Zometa ( zoledronate ), used to treat tumor-induced hypercalcemia
Novartis has many products in clinical development. In a list dated December 31, 2018, candidates include: A. Asciminib , Canakinumab , Onasemnogen-Abeparvovec , Alpelisib , Amilomotide , Iscalimab , Secukinumab , Olodanrigan , Capmatinib , Ruxolitinib , Cipargamin , Ganaplacide , Ribociclib , clofazimine , Isilodrostat , Tropifexor , Branaplam , ranibizumab , Ofatumumab , Spartalizumab , Fevipiprant , Ligelizumab , midostaurin , Crizanlizumab , Lanalumab , Emricasan , omalizumab and Adriforant listed.
The Novartis company is the sponsor of the Novartis Foundation (formerly: Novartis Foundation for Sustainable Development) . Its president and managing director until 2013 was Klaus M. Leisinger . Since then, the foundation has been led by Ann Aerts, and Jörg Reinhardt is the President of the Board of Trustees.
The Novartis Foundation initiates projects to improve health in developing countries. Focal points of the work are among other things the fight against leprosy , malaria and tuberculosis as well as the support of AIDS orphans. The Novartis Foundation researches and publishes in the field of business ethics and acts as an interface between the private sector and international organizations.
Together with the German Migraine and Headache Society , Novartis awards the Soyka Prize for Pain Therapy, endowed with 100,000 euros .
Novartis is the shirt sponsor and "Leading Partner" of FC Basel .
The old production area in St. Johann in Basel with an area of 20 hectares was redesigned and called the “ Campus of Knowledge”. The entire infrastructure was extensively renovated. In the global struggle for the best workers, good working conditions are created for employees in the “Campus of Knowledge”. When it is completed, the “Novartis Campus” will have 10,000 workplaces.
The right-angled master plan comes from Vittorio Magnago Lampugnani . The first four office buildings are by the architects SANAA , Peter Märkli , Vittorio Magnago Lampugnani and Roger Diener with Helmut Federle and Gerold Wiederin , the first laboratory building by Adolf Krischanitz . By 2012, six laboratory and three office buildings were added. The overall project is planned to run until 2030, with a planned total investment of CHF 2 billion.
Novartis paid the city of Basel CHF 100 million to expand its site. The port of St. Johann was abolished and Novartis expanded its area towards the Rhine. The Hüningerstrasse , which cuts through the factory premises, was closed and built over. A freely accessible bank of the Rhine was designed for the public. A high-rise zone was to be built in the northwest of the area; two 120-meter-high towers were planned. A university center for life sciences is to be built at Novartis .
In January 2020, Novartis announced that the Novartis Campus, which was previously only accessible to a limited extent, would be opened.
In Germany, the group came under severe criticism in 2007 because of the price of the newly approved drug Lucentis (active ingredient ranibizumab ) for the treatment of wet age-related macular degeneration . It is around 50 times more expensive than the Avastin , which was primarily used until then , but which is not approved for this use. With the approval of Lucentis, Avastin can no longer be prescribed. Critics see the new drug merely as a further development of Avastin, while Novartis speaks of a completely newly developed drug. Experts estimate the additional costs for the health system due to this drug alone at several billion euros. Wolf-Dieter Ludwig, the chairman of the Drugs Commission of the German Medical Association, accused the company of asking “a horrific price for its monopoly”. According to its own calculations, Novartis sees a significantly lower burden on the health system and is negotiating with the National Association of Statutory Health Insurance Physicians and the health insurance companies about a price reduction.
The company filed a lawsuit against the state of India because its patent law provides for the production of significantly cheaper generics . India has become an important country of origin of generics thanks to its patent law regulation, which does not provide for patent protection, for example in the case of only slightly changed active ingredient composition . Novartis' lawsuit has been heavily criticized, especially by NGOs such as Doctors Without Borders , as a judgment against the Indian government would leave millions of people worldwide without affordable medical care. The lawsuit was dismissed on August 7, 2007 because the Indian court declared that it had no jurisdiction and referred Novartis to the WTO arbitration tribunal. For 2007, Novartis received the negative award from “ Public Eye on Davos ”.
In October 2007, Novartis was awarded the negative Big Brother Award in the “Working World” category for “ spying on its employees ”.
In May 2010, Novartis was sentenced by a district court in New York to fines of $ 250 million and damages to female employees of $ 3.36 million for having a U.S. subsidiary that had female employees in the period from 2002 to 2007 had disadvantaged. Novartis denied the allegations and subsequently announced an appeal. In July 2010, Novartis reached a settlement with the plaintiffs. The company announced it would pay $ 152.5 million to those affected. In addition, Novartis plans to spend $ 22.5 million on programs to promote women and improve its policies.
On October 1, 2010, Novartis reached an agreement with the US Department of Justice on fines totaling $ 422.5 million after former Novartis employees confirmed in court as whistleblowers that the US subsidiary Novartis Pharmaceuticals Corporation attempted to bribe healthcare workers to promote the prescription of the drugs Trileptal, Diovan, Exforge, Sandostatin, Tekturna and Zelnorm.
In March 2012, it was announced that Novartis had systematically spied on patient data in Germany by physicians copying billing data and passing it on to Novartis in order to reduce billing costs.
Following public protests, Daniel Vasella and Novartis waived a non- competition clause for Vasella after his departure in February 2013 . The non-compete clause would have been linked to compensation of 72 million francs for six years (i.e. 12 million francs per year). In July 2013, Novartis announced that Vasella would receive almost 5 million francs (4.4 million euros), of which 2.2 million francs in shares, between February and the end of October 2013, for “certain transitional services”. A consulting contract running until the end of 2016 guaranteed Vasella $ 25,000 per day of consulting. The minimum amount was US $ 250,000 for each of the years 2014, 2015 and 2016.
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