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Novartis says expects three executive committee members to leave

Published 08/10/2014, 06:36
Updated 08/10/2014, 06:40
© Reuters Logo of Swiss drugmaker Novartis is seen at its headquarters in Basel
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ZURICH (Reuters) - Swiss drugmaker Novartis AG (VX:NOVN) said on Wednesday three members of its executive committee would leave the company following the completion of transactions with GlaxoSmithKline (GSK) (L:GSK) and Eli Lilly (N:LLY) expected in the first half of 2015.

EU antitrust regulators approved U.S. drugmaker Lilly's $5.4 billion (3.36 billion pounds) takeover of Novartis's animal health business last week. Novartis separately agreed in April to buy GSK's oncology products for $14.5 billion and sell its vaccine business to the British drugmaker for $7.1 billion.

George Gunn, division head of Novartis Animal Health, will leave the executive committee once the deal with Lilly is concluded, Novartis said in a statement.

© Reuters. Logo of Swiss drugmaker Novartis is seen at its headquarters in Basel

Andrin Oswald, division head of Novartis Vaccines, will leave the company following the completion of the deal with GSK, while Brian McNamara, division head of Novartis OTC (Over-the-Counter), will move to GSK.

(Reporting by Joshua Franklin; Editing by Stephen Coates)

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