Novartis

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Novartis
In 2013, the CEO of Novartis at the time, Daniel Vasella, retired and handed power over to Joe Jimenez. Jimenez mandate was clear, that is, to change the Swiss organization from pharmaceuticals company into a global healthcare company (George et al. n.p.). However, the plans for expansion to foreign markets started during Vasella’s era who was focused on changing the culture of the company. He realized that transforming Novartis into a global company required providing advancement opportunities for talented individuals regardless of their nationality; this was achieved by hiring people from different parts of the world to help achieve diversity within the company.
The most significant move to foster growth in foreign markets came in 2002 when Novartis abandoned the traditional drug-development model and announced that it would only be investigating diseases for which development of new drugs was driven by solid scientific basis and had high demand. Most companies would consider the move as commercial suicide. However, Novartis understood that a significant number of illnesses share various genetic components with common ailments. Novartis has bought companies such as Grandis from Germany, Apotheccon from the United States and BASF Pharma from Europe.
Despite Novartis was experiencing slow growth in the United States in its quest to establish itself in the global market, the company had a great success in other areas. For example, in 2011, the company bought a Chinese vaccine company, its cost doubled two years after becoming a part of Novartis.

China is committed to improving the country’s health care. In 2013, the expansion rate for Novartis in China was 24%. The Russian government is also dedicated to enhancing its healthcare sector, and Novartis is expected to achieve impressive results in the region.

Work Cited
George, William W., Krishna G. Palepu, and Carin I. Knoop. “Novartis: Leading a Global Enterprise.” Harvard Business School (2014): N.p., Web. 22 Oct. 2018.