Novartis looks to expand pipeline, focuses on long-term growth

BASEL, Switerland — Swiss drug maker Novartis will focus on innovation as part of a program for long-term growth, the company said Wednesday.

Novartis touted its research and development pipeline of 142 drugs in clinical trials, 35% of which are in phase 3 or undergoing regulatory review, as well as a plan to submit 30 more drugs for regulatory review by the end of 2012. The company also plans to continue investing in vaccine development.

“Novartis has leading businesses in fast-growing segments of health care, and by focusing on our strategic priorities, we are well-positioned to succeed in a rapidly changing healthcare environment,” CEO Joseph Jimenez said.

Other parts of the company’s strategy include its diversified drug portfolio and initiatives for increasing efficiencies in manufacturing, sales, marketing and procurement.