Novartis CEO: 'Europe lags behind' on innovation

Novartis CEO Vasant Narasimhan told Bloomberg in an interview that he sees clear differences between Europe and the US in the Swiss pharmaceutical giant's investment strategy. + Get the most important news from Switzerland in your inbox The investment environment outside Europe is currently "much more favourable", Narasimhan said in the interview with Bloomberg on the sidelines of the World Economic Forum in Davos. The statement comes against a backdrop of renewed geopolitical uncertainties and trade tensions, challenges that are particularly relevant for an industry with innovation cycles in excess of ten years. Although these "instabilities" should not be underestimated, according to Narasimhan they do not undermine Novartis' business model. It is counterproductive to adopt a reactionary behaviour to events now, the executive argued. Novartis' strategy remains to pursue innovation and seek acquisitions to strengthen its portfolio, while maintaining a "very active profile in the ...