Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Switzerland
  4. Swiss Exchange
  5. Novartis AG
  6. News
  7. Summary
    NOVN   CH0012005267

NOVARTIS AG

(NOVN)
  Report
Real-time Estimate Cboe Europe  -  11:20:00 2023-02-03 am EST
79.55 CHF   +1.64%
07:44aNOVARTIS AG : JP Morgan sticks Neutral
MD
07:34aDA Davidson Raises Novartis AG PT to $95 From $90 After Higher-Than-Consensus Q4 2022 Core Earnings, Maintains Buy Rating
MT
02/02NOVARTIS AG : Receives a Sell rating from Credit Suisse
MD
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Teva hires ex-Novartis executive to succeed CEO Schultz

11/21/2022 | 07:38am EST

Nov 21 (Reuters) - Teva Pharmaceutical on Monday appointed former Novartis and Biogen executive Richard Francis to succeed chief executive officer Kare Schultz who is due to retire later this year.

Francis, who currently holds the top post at gene therapy firm Purespring Therapeutics and biopharma company Forcefield Therapeutics, will also take the role of Teva's president, effective Jan. 1, 2023.

Formerly the chief at Novartis' generic business Sandoz, Francis, 54, has also worked at Biogen and oversaw the launch of the company's multiple sclerosis drug Tecfidera.

Barclays analysts view the appointment as "timely for 2023" with upcoming launch of Teva's schizophrenia drug Risperidone LAI and a biosimilar of Amgen Inc's arthritis drug, Humira.

Francis brings in significant experience needed to grow Teva's three core businesses of generics, biosimilars and specialty, said Barclays analyst Balaji Prasad.

During Schultz's tenure, Teva has struggled with lower prices for U.S. generics drugs, the loss of a patent on its blockbuster multiple sclerosis drug Copaxone, and lawsuits alleging the company helped fuel the U.S. opioid epidemic and price fixing.

Teva is working to finalize a nationwide opioid settlement valued at more than $4.2 billion.

U.S.-listed shares of the Israeli drugmaker fell 1.5% to $8.59 in morning trade.

Schultz, 61, was poached from Lundbeck and took over in 2017 after Teva, under predecessor Erez Vigodman, bought Allergan's generics business in a heavily criticized move and saddled the company with a huge debt.

To help pay down the debt, Schultz slashed Teva's workforce and shut plants, bringing net debt down by more than $15 billion to $19 billion, but investors have not rewarded the moves.

Since Schultz took over, Teva's stock has fallen nearly 50%. The company's market cap is down 85% from its peak of $67.5 billion in August 2015, according to Refinitiv data. (Reporting by Bhanvi Satija and Khushi Mandowara in Bengaluru and by Steven Scheer in Jerusalem; Editing by Shinjini Ganguli)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AMGEN INC. -0.64% 244.96 Delayed Quote.-6.13%
BARCLAYS PLC 0.21% 188.8 Delayed Quote.18.85%
BIOGEN INC. -0.27% 286.75 Delayed Quote.5.30%
LUNDBECK 1.69% 24.1 Delayed Quote.-0.75%
NOVARTIS AG 1.67% 79.57 Delayed Quote.-6.38%
All news about NOVARTIS AG
07:44aNOVARTIS AG : JP Morgan sticks Neutral
MD
07:34aDA Davidson Raises Novartis AG PT to $95 From $90 After Higher-Than-Consensus Q4 2022 C..
MT
02/02NOVARTIS AG : Receives a Sell rating from Credit Suisse
MD
02/02NOVARTIS AG : Deutsche Bank reiterates its Sell rating
MD
02/01Health Care Up After GSK Earnings -- Health Care Roundup
DJ
02/01ADRs End Mostly Higher, Airbus and Novartis Trade Actively
DJ
02/01Novartis AG Provides Group Earnings Guidance for the Fiscal Year 2023
CI
02/01NOVARTIS AG : Gets a Buy rating from Goldman Sachs
MD
02/01Global markets live: AMD, Amgen, Electronic Arts, PayPal, Snap...
MS
02/01Trending: Novartis's 4Q Net Profit Declines on Poor Drug Performances
DJ
More news
Analyst Recommendations on NOVARTIS AG
More recommendations
Financials (USD)
Sales 2022 51 352 M - -
Net income 2022 8 563 M - -
Net Debt 2022 8 292 M - -
P/E ratio 2022 21,2x
Yield 2022 3,87%
Capitalization 182 B 182 B -
EV / Sales 2022 3,71x
EV / Sales 2023 3,74x
Nbr of Employees 108 000
Free-Float 87,1%
Chart NOVARTIS AG
Duration : Period :
Novartis AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NOVARTIS AG
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 25
Last Close Price 85,95 $
Average target price 97,36 $
Spread / Average Target 13,3%
EPS Revisions
Managers and Directors
Vasant Narasimhan Chief Executive Officer
Harry Werner Kirsch Chief Financial Officer
Hans J÷rg Reinhardt Non-Executive Chairman
Shreeram Aradhye Chief Medical Officer
Steffen Lang President-Operations
Sector and Competitors
1st jan.Capi. (M$)
NOVARTIS AG-6.38%182 178
JOHNSON & JOHNSON-6.29%432 802
ELI LILLY AND COMPANY-6.36%314 224
NOVO NORDISK A/S-3.40%300 394
ROCHE HOLDING AG-5.73%264 917
MERCK & CO., INC.-6.75%262 312