Novartis adapts to changing market

Swiss drug major Novartis' chief executive Daniel Vasella stressed the need for Big Pharma companies to change in the face of a tougher market in an interview with the Wall Street Journal.

Novartis' stock, following the pharmaceuticals market trend, has dropped 25% in the last year, but showed a major turnaround in the last few months. Dr Vasella says that part of the problem was that the firm had become too big and too bureaucratic, and he was sometimes too remote from the day-to-day running of the company.