ZURICH (Reuters) – Novartis said on Monday it was integrating its pharmaceuticals and oncology units into an innovative medicines (IM) business to simplify its structure, targeting savings of at least $1 billion by 2024.
The Swiss pharmaceutical company said it expects value creation through these operational improvements, ensuring at least 4% sales growth and delivering at the high end of the company’s IM margin guidance of high 30s in the medium term and 40% or more in the mid- to long-term, it said in a statement.
(Reporting by Silke Koltrowitz, Editing by Miranda Murray)
