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Novartis CEO Reshapes Firm For 'Brutal' New World

Novartis Chief Executive Joe Jimenez is taking a hard look at the drugmaker's smaller businesses as he reshapes the company for what he expects to be a "brutal" new era in healthcare spending.At least one of the three sub-scale units - animal health, vaccines and over-the-counter medicines - is not expected to make the cut, he told Reuters in the clearest indication yet of how the review is progressing."I really wish we could make all three of those businesses global scale, but I think it's unlikely," Jimenez said.At first blush, Jimenez's vision of a healthcare market that could double in a decade as populations get older and sicker seems like good news. But there is a dark side because budget constraints will make it ever harder to get treatments paid for."It's going to be brutal in terms of getting reimbursement," he said, adding that sub-scale businesses which are not leaders in their fields would be left trailing.While the three smaller divisions make up only 10.5 percent of Novar...

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