Vasant Narasimhan Explained

Vasant Kalathur Narasimhan
Honorific Suffix:M.D.
Birth Date:26 August 1976
Birth Place:Pittsburgh, Pennsylvania, U.S.
Education:University of Chicago
Harvard Medical School
Harvard University, Kennedy School of Government
Occupation:CEO of Novartis
Profession:Physician
Work Institutions:Novartis
Children:2

Vasant "Vas" Narasimhan (born August 26, 1976) is an American physician and the chief executive officer of Novartis.[1] [2] [3] [4] He succeeded Joseph Jimenez who left Novartis in 2018.[5] He briefly worked at McKinsey before joining Novartis in 2005, where he has held a range of leadership roles, including Global Head of Development for Novartis Vaccines and Global Head of Drug Development & Chief Medical Officer. [6]

Early life

Narasimhan was born in Pittsburgh in 1976 to parents who originated from Tamil Nadu, India.[7] His parents came to the US from India in the 1960’s and early 1970’s and started the Shri Venkateshwara temple in Penn Hills, Pittsburgh which he has stated was influential in his upbringing. Narasimhan's mother was a nuclear engineer for Public Service Electric and Gas Company and his father was an executive at Hoeganaes Corporation.[8]

Narasimhan received his bachelor's degree in biological sciences from University of Chicago, his M.D. from Harvard Medical School and his master's degree in public policy from the John F. Kennedy School of Government.[9]

During his undergraduate and post-graduate studies, he worked on public health programs including the National HIV Treatment Program in Botswana, the American Red Cross in The Gambia and child poverty in India. Paul Farmer and Jim Kim were his mentors and thesis advisors.[10] [11] [12] [13] [14]

Career

Early career

After his first year of medical school, Vas went to Kolkata, India to work with street children and child laborers for 3 months. He later worked on malaria and HIV/AIDS in Tanzania and he did his thesis on multidrug resistant tuberculosis in Peru.

Narasimhan joined McKinsey & Co, as a consultant and engagement manager for two years and was recruited by Novartis in 2005.[15]

He spent 8 years working in Novartis Vaccines, at the time a non-profit division focused on developing vaccines for children and patients around the world and served as the Global Head of Development, Novartis Vaccines in the US between 2012 and 2014 before moving to Sandoz as Global Head of Biopharmaceuticals and Oncology Injectables.[16]

From 2014 to 2016, he served as the Global Head of Development for Novartis Pharmaceuticals. From 2016 to 2018, he held the role of Global Head of Drug Development and Chief Medical Officer within the company.

Novartis Chief Executive (2017 – present)

On September 5, 2017, Narasimhan was named CEO of Novartis, succeeding Joseph Jimenez.[17] [18]

He publicly stated his desire to focus Novartis from a diversified company to a pure-play medicines company.[19] He also advocated for development of key technologies and capabilities in advanced therapy platforms, such as cell therapy and gene therapy,[20] RNA therapeutics, and radioligand therapy.[21] [22]

As part of his strategy, Narasimhan has divested the joint consumer healthcare venture to GSK,[23] the spin-off of Alcon,[24] and the exit of a stake in Roche[25] [19] as well as pushed for the acquisition of Advanced Accelerator Applications, Endocyte, AveXis, and The Medicines Company.[26] [27] [28]

In February 2018, three months after becoming CEO, Narasimhan apologized to Novartis employees after it was revealed that Novartis had signed a $1.2 million year-long contract with President Donald Trump's personal attorney Michael Cohen's consulting firm in February 2017.[29] [30]

In 2019, in response to an FDA investigation about manipulated data involving Zolgensma, Narasimhan defended the company's decision to delay informing the FDA and also announced the company was forcing out scientists who were involved in the manipulated data.[31] [32] [33]

As part of a "more comprehensive commitment to ethics”, Narasimhan has moved to settle long standing bribery and anti-trust cases facing Novartis in the US, China, Vietnam and Greece.[34] [35] [36]

Memberships

Narasimhan is a member of the U.S. National Academy of Medicine and a member of the board of fellows of Harvard Medical School.[37] [38] Since February 2023, he serves as the chair, and is also former board member and treasurer of the Pharmaceutical Research and Manufacturers of America (PhRMA).[39] [40]

He also serves on the board of African Parks, a nonprofit conservation organization, and since December 2022 is the chair of the board.[41] [42]

Recognition

In 2015, Fortune listed Narasimhan 7th in their '40 under 40' list.[43]

Personal life

Narasimhan married Srishti Gupta in 2003, after meeting her at Harvard while organizing an Asian cultural festival.[44] They have two children and live in Basel, Switzerland.[16] Narasimhan is a vegetarian.[45] [46]

External links

Notes and References

  1. News: Indian-origin Vasant Narasimhan to head $48 billion pharma giant Novartis. Phadnis. Aneesh. 2017-09-05. Business Standard India. 2018-08-15.
  2. News: Novartis CEO Steers Drug Maker Back to R&D. Bisserbe. Noemie. 2018-02-18. Wall Street Journal. 2018-08-15. en-US. 0099-9660.
  3. News: Phadnis . Aneesh . Indian-origin Vasant Narasimhan to head $48 billion pharma giant Novartis . 25 November 2019 . Business Standard India . 5 September 2017.
  4. News: Dandekar . Vikas . Sukumar . C. R. . There's an explosion of data & digital opportunities in Indian healthcare: Vasant Narasimhan, CEO, Novartis . 25 November 2019 . The Economic Times . 21 August 2018.
  5. News: 4 September 2017 . Novartis CEO Jimenez to Quit, Giving Reins to Harvard Doctor . Bloomberg.com . Bloomberg Technology . 5 September 2017.
  6. Web site: Executive Profile – Vasant Narasimhan . 15 August 2018 . Bloomberg.
  7. News: Phadnis . Aneesh . September 4, 2017 . Indian-origin Vasant Narasimhan to head $48 billion pharma giant Novartis . . July 8, 2022 . Narasimhan, 41, doctor from Harvard Medical School, is a second generation immigrant in the US. His parents moved there from Tamil Nadu in the 1970s..
  8. News: March 16, 2003 . WEDDINGS/CELEBRATIONS; Srishti Gupta, Vasan Narasimhan . . July 8, 2022 . His mother, Gira Narasimhan, a former nuclear engineer for Public Service Electric & Gas, is a lecturer in physics at Burlington County Community College in Pemberton, N.J. His father is the vice president for research and development at the Hoeganaes Corporation, a supplier and developer of industrial raw materials, in Cinnaminson, N.J..
  9. Web site: Vasant (Vas) Narasimhan. Novartis. 5 September 2017. 5 September 2017. https://web.archive.org/web/20170905183907/https://www.novartis.com/sites/www.novartis.com/files/cv-vasant-narasimhan-en.pdf. dead.
  10. News: Smale . Will . March 18, 2020 . 'It was never my plan to be the boss of a huge company' . . July 8, 2022 . There was also no let up in his summer holidays, as he was always volunteering overseas; helping to fight malaria in Gambia, tackling tuberculosis in Peru and child poverty in India..
  11. News: Gelles . David . August 1, 2019 . Vas Narasimhan of Novartis: 'We Are Not at All Prepared for a Pandemic' . . July 8, 2022 . I went to the University of Chicago and did pre-med. Then for my junior year of college I went to Gambia where I worked with the Red Cross in malaria control. That was my first exposure to public health..
  12. Redefining Leadership in the Age of the SDGs Accelerating and Scaling Up Delivery Through Innovation and Inclusion . Mlambo-Ngcuka . Phumzile . August 19, 2019 . . 19 . Narasimhan knows this well. As age 20, Narasimhan took time off of college, to work with the Red Cross in Gambia. . July 8, 2022.
  13. Narasimhan . Vasant . Brown . Hilary . Pablos-Mendez . Ariel . Adams . Orvill . Dussault . Gilles . Elzinga . Gijs . Nordstrom . Anders . Habte . Demissie . Jacobs . Marian . Solimano . Giorgio . Sewankambo . Nelson . Wibulpolprasert . Suwit . Evans . Timothy . Chen . Lincoln . 2004-05-01 . Responding to the global human resources crisis . Lancet . 363 . 9419 . 1469–1472 . 10.1016/S0140-6736(04)16108-4 . 1474-547X . 15121412. 34887437 .
  14. Narasimhan . Vasant . Brown . Hilary . Pablos-Mendez . Ariel . Adams . Orvill . Dussault . Gilles . Elzinga . Gijs . Nordstrom . Anders . Habte . Demissie . Jacobs . Marian . Solimano . Giorgio . Sewankambo . Nelson . Wibulpolprasert . Suwit . Evans . Timothy . Chen . Lincoln . 2004-05-01 . Responding to the global human resources crisis . The Lancet . en . 363 . 9419 . 1469–1472 . 10.1016/S0140-6736(04)16108-4 . 15121412 . 34887437 . 0140-6736.
  15. Web site: Emerging Pharma Leaders: Vas Narasimhan . 2023-04-24 . PharmExec . 3 October 2016 . en.
  16. Web site: Vasant Narasimhan . 2023-04-24 . Novartis . en.
  17. Web site: Times . Sarah Neville and Ralph Atkins, Financial . New Novartis chief eyes productivity revolution . 2023-04-24 . SWI swissinfo.ch . 26 September 2017 . en.
  18. Web site: Novartis announces CEO Joseph Jimenez to retire from Novartis in 2018. Vasant Narasimhan appointed CEO, effective February 1, 2018. . 2023-04-24 . Novartis . en.
  19. News: Mancini . Donato Paolo . 2022-02-04 . Vas Narasimhan: the American trying to reshape Novartis . Financial Times . 2023-06-27.
  20. Web site: Dunn . Andrew . Novartis' CEO said gene therapy is a 'nuanced puzzle' everyone is trying to figure out, but he's still committed to the cutting-edge treatments . 2023-06-27 . Business Insider . en-US.
  21. Web site: Novartis CEO eyeing RNA landscape for M&A to expand research 'gameboard' . 2023-06-27 . www.spglobal.com . en-us.
  22. Web site: Nathan-Kazis . Josh . Novartis CEO to Wall Street: Don't Underplay What's Ahead for This Company . 2023-06-27 . www.barrons.com . en-US.
  23. Web site: Daniel . Ellen . 2018-04-04 . GSK to buyout consumer healthcare business from Novartis for $13bn . 2023-06-27 . Pharmaceutical Technology . en-US.
  24. News: 2018-06-29 . Novartis to Spin Off Alcon as CEO Focuses on Finding Drugs . en . Bloomberg.com . 2023-06-27.
  25. Web site: Roche to repurchase equity stake held by Novartis . 2023-06-27 . European Pharmaceutical Review . en.
  26. News: 2018-10-18 . Novartis pushes deeper into nuclear medicine with $2.1 billion deal . en . Reuters . 2023-06-27.
  27. News: Kuchler . Hannah . 2021-07-21 . Novartis aims to beat rivals to novel $10bn cancer treatment market . Financial Times . 2023-06-27.
  28. Web site: Tindera . Michela . Novartis CEO Vas Narasimhan On The Price Of Gene Therapies: 'It's A Challenge We Have To Solve' . 2023-06-27 . Forbes . en.
  29. Web site: Okun . Eli . 2018-05-11 . Novartis CEO: 'We made a mistake' with Cohen payments . 2023-06-27 . POLITICO . en.
  30. Web site: 2018-05-16 . Novartis legal head resigns over Cohen payments . 2023-06-27 . PMLive . en.
  31. News: Thomas . Katie . 2019-08-07 . Novartis C.E.O. Defends Company's Decision to Withhold False Data From the F.D.A. . en-US . The New York Times . 2023-06-27 . 0362-4331.
  32. Web site: Garde. Damian . August 7, 2019 . Novartis CEO in the hotseat after revelation that his company submitted falsified data to the FDA - The Boston Globe . 2023-06-27 . BostonGlobe.com . en-US.
  33. Web site: Tirrell . Meg . 2019-08-14 . Novartis fires brother scientists alleged to be involved in data manipulation . 2023-06-27 . CNBC . en.
  34. Web site: Keystone-SDA/dos . 2020-07-02 . Novartis pays big fine for bribing doctors in the US . 2023-06-27 . SWI swissinfo.ch . en.
  35. News: 2019-07-18 . Novartis CEO sets aside $700 million to settle doctor bribery lawsuit . en . Reuters . 2023-06-27.
  36. News: 2018-09-17 . Novartis links bonuses to ethics in bid to rebuild reputation . en . Reuters . 2023-06-27.
  37. Web site: Board of Fellows . 2023-04-24 . hms.harvard.edu . en.
  38. Web site: Authors. World Economic Forum. 2018-08-15.
  39. Web site: Vas Narasimhan of Novartis Becomes Chair of PhRMA Board . 2023-04-24 . phrma.org . en.
  40. News: Novartis CEO, as incoming PhRMA chair, outlines 3 priorities for pharma after IRA setback . Fiercepharma .
  41. Web site: Vasant (Vas) Narasimhan . 2023-04-24 . www.africanparks.org . en.
  42. Web site: African Parks appoints new Chairperson of the Board . 2023-04-24 . www.africanparks.org . en.
  43. News: 2015-09-24 . Vas Narasimhan . en-US . Fortune . dead . 2018-08-15 . https://web.archive.org/web/20180816061659/http://fortune.com/40-under-40/2015/vas-narasimhan-7/ . 2018-08-16.
  44. News: 2003-03-16. WEDDINGS/CELEBRATIONS; Srishti Gupta, Vasant Narasimhan. en-US. The New York Times. 2020-09-24. 0362-4331.
  45. Web site: Vas Narasimhan knew what to expect as Novartis CEO—or so he thought: NYT .
  46. Web site: Vas Narasimhan - Agenda Contributor . 2023-04-24 . World Economic Forum . en.

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