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Novartis history
Novartis company history timeline
Novartis was founded on February 29, 1996 and is headquartered in Basel, Switzerland.“
To this latter end, the company reached a licensing agreement with rival Rhone-Poulenc Rorer for certain gene therapy patents, and in December 1996 Novartis AG was officially incorporated.
Fearing that this discrepancy would inevitably drive the majority of biotech research to the United States, the European Chemical Industry Council (Cefic) issued a directive in May 1997 that called for the simplification of patenting procedures.
Novartis AG, Swiss company that is one of the world’s largest manufacturers of pharmaceuticals. It was formed in 1997 from the merger of two major Swiss drug companies, Ciba-Geigy AG and Sandoz AG. Novartis is headquartered in Basel.
In April 1998 the company announced plans to build a research institute in San Diego dedicated to the study of human genes; a second lab, devoted to plant genetics, was announced in July.
Novartis remained a worldwide leader in this field, becoming the first company to sell genetically-modified white corn seeds in the United States in May 1998.
The company's initial success with its genetically modified crops was hit hard by a report released in the United States in May 1999, which claimed that pollen from genetically-modified corn was responsible for wiping out large populations of Monarch butterflies.
He was also on the Board of Directors and was named Chairman in 1999.
A restructuring of the company's pharmaceutical operations followed in July 2000, and by the early part of the new century the company was poised to launch eight new drugs, including Starlix, which treated Type-2 diabetes, and Femara, a breast-cancer treatment.
With the merger of pharmaceutical giants Glaxo-Wellcome and SmithKline Beecham in December 2000, the success of Novartis's potential blockbuster drugs, in particular Starlix and Zelmac, seemed even more critical to its future as an international leader in the pharmaceutical industry.
Environmentalism became one of the cornerstones of Ciba's 'Vision 2000' strategy, a long-term plan to balance the economic, social, and environmental objectives of the company.
In 2000, Novartis and AstraZeneca combined their agrobusiness divisions to create a new company, Syngenta.
In 2002, the company increased its investment in Roche to just under one-third of Roche’s voting shares.
In 2003, Novartis acquired the worldwide adult medical nutrition business of Mead Johnson and Company, which is a subsidiary of Bristol-Myers Squibb, and also US biotech Idenix Pharmaceuticals, expanding its antiviral medicines unit.
In 2003, Novartis organized all its generics businesses into one division, and merged some of its subsidiaries into one company, reusing the predecessor brand name of Sandoz.
In 2004, The Novartis Institute for Tropical Disease opened in Singapore, with a focus on biomedical research for dengue fever and drug-resistant tuberculosis.
In 2005, Novartis expanded its subsidiary Sandoz significantly through the US$8.29 billion acquisition of Hexal, one of Germany's leading generic drug companies, and Eon Labs, a fast-growing United States generic pharmaceutical company.
In 2006, Novartis announced the creation of a biomedical R&D centre in Shangai, China.
The US Department of Health and Human Services granted Novartis with a contract for up to $220 million in 2006 to build a cell culture-based influenza vaccine plant in the US, recognising Novartis as a leader in influenza vaccine development.
In 2006, Novartis acquired the California-based Chiron Corporation.
Also in 2006, Sandoz became the first company to have a biosimilar drug approved in Europe with its recombinant human growth hormone drug.
In 2007, Novartis sold the Gerber Products Company to Nestlé as part of its continuing effort to shed old Sandoz and Ciba-Geigy businesses and focus on healthcare.
Vasella stepped down as Novartis’ CEO in January 2010 and was replaced by Joseph Jimenez, who was the Division Head of Novartis Pharmaceuticals.
In 2010, Novartis becomes the world leader in eye care when it acquires majority ownership in Alcon, Inc., based in the US in Fort Worth, Texas.
In 2011, Novartis acquired the medical laboratory diagnostics company Genoptix to "serve as a strong foundation for our (Novartis') individualized treatment programs".
Also in 2012, Novartis became the biggest manufacturer of generic skin care medicine, after agreeing to buy Fougera Pharmaceuticals for $1.525 billion in cash.
He announced his retirement as Chairman of the Board of Directors and was succeeded by Jorg Reinhard in August 2013.
In 2013, the Indian Supreme Court issued a decision rejecting Novartis' patent application in India on the final form of Gleevec, Novartis's cancer drug; the case caused great controversy.
In January 2014, Novartis announced plans to cut 500 jobs from its pharmaceuticals division.
Dan Fagin's Toms River: A Story of Science and Salvation, the 2014 Pulitzer Prize winning book, examined the issue of industrial pollution at the site in detail.
In 2015, Novartis completes a series of transactions that focus the company on three divisions: Innovative Medicines, Alcon (eye care) and Sandoz (generic medicines).
In November 2016, the company announced it would acquire Selexys Pharmaceuticals for $665 million.
In late October 2017, Reuters announced that Novartis would acquire Advanced Accelerator Applications for $3.9 billion, paying $41 per ordinary share and $82 per American depositary share representing a 47 percent premium.
In late November 2019, the business announced it would acquire The Medicines Company for US$9.7 billion ($85 per share) in order to acquire amongst other assets, the cholesterol lowering therapy; inclisiran.
In April 2020, the company announced it would acquire Amblyotech.
In September 2020, Novartis was imposed a fine of €385 million by the French competition authority on accusations of abusive practices to preserve sales of Lucentis over a cheaper drug.
In October 2020, as part of a joint venture to develop therapeutic drugs to combat COVID-19, Novartis bought 6% of all shares outstanding in Swiss DARPin research company Molecular Partners AG at CHF 23 per share.
In September 2021, the company announced it would acquire gene-therapy business, Arctos Medical, broadening its optogenetics range.
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Novartis competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| AstraZeneca | 1999 | $25.9B | 76,100 | 402 |
| Eli Lilly and Company | 1876 | $45.0B | 33,625 | 783 |
| Merck | 1891 | $64.2B | 74,000 | 1,852 |
| Glaxosmithkline | 2000 | $34.1B | 99,000 | 2 |
| Boehringer Ingelheim | 1984 | $17.2B | 52,391 | 392 |
| Johnson & Johnson | 1886 | $88.8B | 134,500 | 1,291 |
| Sanofi US | 1973 | $980.0M | 110,000 | 698 |
| Falcon Pharmaceuticals Ltd | 1995 | $19.0M | 30 | - |
| Takeda Pharmaceuticals U.S.A., Inc. | 1998 | $12.1B | 30,481 | 1,218 |
| Pfizer | 1849 | $63.6B | 78,500 | 548 |
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Novartis may also be known as or be related to Novartis, Novartis Corporation, Novartis US Foundation and Novartis Vaccines and Diagnostics, Inc.