1. Generics Bulletin
  2. >>Leadership

Sandoz Head Francis To Leave Amid Move Towards Autonomy

 
• By Aidan Fry

Sandoz’ drive to greater efficiency and stronger profit margins through a group-wide transformation process has prompted the division’s global head, Richard Francis, to step down.

Francis_Richard
Sandoz' global head, Richard Francis, is stepping down as Novartis' generics and biosimilars division embarks on a wide-ranging transformation plan • Source: Novartis

Richard Francis, global chief executive officer of Sandoz, will step down from the position at the end of this month. He will be replaced on an ad-interim basis by Sandoz’ regional head for Europe, Francesco Balestrieri, who will report directly to parent group Novartis’ CEO, Vas Narasimhan.

Explaining his decision to resign, Francis stated: “As we announced earlier this year, Sandoz is embarking on a significant transformation

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Generics Bulletin for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Leadership

More from Generics Bulletin

‘I’ll Be Happy When We Have 40-Plus Assets’ – Sandoz Builds Up Biosimilars

 
• By Dave Wallace

With biosimilars playing an increasingly important role in Sandoz’s business, the firm’s first-quarter results call saw management lay out the latest key developments. Meanwhile, the company also addressed the issue of US tariffs, voicing optimism over both future developments as well as its ability to weather current measures.

Teva To Slash Thousands Of Jobs And Shut More Sites Under $700m Savings Plan

 
• By Dean Rudge

Teva’s plans to generate net savings of $700m by 2027 have been described by the firm as a journey and not a destination, with the suggestion that “this era of cost efficiency, harmonization, frugality will continue.”

Tetris Deal Falls Into Place For UK’s Aspire

 
• By Dave Wallace

Niche generics company Aspire Pharma has struck a deal to acquire a portfolio of products from fellow UK firm Tetris Pharma as it is wound up, paying Tetris parent Arecor £0.5m for UK distribution rights and inventory.