BASEL, Switzerland Novartis has announced that Joe Jimenez, who is the head of the company’s consumer healthcare unit, will step in to run the pharmaceuticals unit.
One of his first jobs will be to oversee the company’s planned sales and marketing job cuts that will save Novartis an estimated $230 million. The company will remove 240 of the eliminated sales and marketing jobs will come from its U.S. headquarters, and then 510 positions from its sales force and an additional 510 from contract sales.
The company is also facing hardships from its loss of the irritable bowel drug Zelnorm, which was removed from the market in March. Also, generic competition for Novartis’ top drugs Lamisil, Lotrel and Famvir. Finally, the Food and Drug Administration delayed the new type 2 diabetes drug Galvus for approval, requesting for more data on the drug.