Cost cutting is Novartis' key to sustaining high R&D spending

04/3/2011 | Wall Street Journal, The

Unlike competitors, Novartis uses cost reduction to keep its funding level for research and development "at the top of the industry," said CEO Joe Jimenez. He is optimistic about the company's ability to generate strong sales growth despite competition from generics. "We have a strategy that can lead us to grow over the next five years despite patent losses and drug price cuts," he said.

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