Novartis

Last edited by Ian Elwood on July 11, 2008 - 3:06pm

Company Snapshot:

Novartis is a Swiss biotechnology, drug, and consumer products company with a U.S. division. It was formed in 1996 by the merger of Ciba-Geigy and Sandoz. Over-the-counter brands include Ex-Lax, Lamisil antifunal agent, Maalox antacid, Nicotinell smoking cessation, Otrivin nasal decongestant, Theraflu for cold and flu, Triaminic for child cough, Bufferin and Excedrin asprin, and No-Doz caffeine. Pharmaceutical brands include Diovan and Lotrel for hypertension and Glivec for Leukemia. The CIBA division makes contact lenses. The Gerber baby food division is to be sold to Nestlé by the end of 2007.

Ownership status:

Publicly traded

Number of employees worldwide:

100,735

Chief executive officer:

Daniel Vasella

2008 Global Fortune 500 rank:

181

Website:

http://www.novartis.com/

Corporate accountability

Anti-competitive and consumer protection:

In 2006, Novartis launched a court case against India seeking to prohibit the country from developing affordable generic drugs based on patented medicines. Novartis had challenged a law that allows India to refuse to recognize a patent for an existing medicine if the formula had been modified only slightly in order to re-patent the drug. Over half of the world's population make less that USD 2.00 a day and millions of people living in poverty around the world depend on Indian generic medicines for their survival. On August 5, 2007 an Indian court in Madras ruled against Novartis saying that, "Novartis’ legal challenge - mounted to limit competition to its own patented medicines - was a threat to people suffering from cancer, HIV and AIDS, diabetes and other diseases who are too poor to pay for them." The high court also claimed to have no jurisdiction on whether Indian Patent law complied with WTO patent guidelines.

In the months leading up to the hearing, over half a million people wrote to the CEO of Novartis expressing their opposition to the suit. Novartis has decided not to appeal the ruling.