Word: unites
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Dates: during 2000-2009
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...sales in 1998 and 1999--slowed by a dearth of lucrative products--increased just 2% a year, while those of its main competitors were growing at about 10 times that rate. Looking for a unifying vision for his new company, Vasella championed "life sciences," the idea that biotechnology would unite nutritional, agricultural and pharmaceutical businesses. But the expected synergies did not materialize for Novartis, or for any other company that tried the life-sciences approach. Once he saw his vision wasn't working, Vasella was quick to abandon it. He divested Novartis of its agribusiness unit...
Novartis has since fashioned itself as a health-care company, but its core business, which generated 63% of group sales last year, is branded pharmaceuticals, led by brands such as Diovan and Sandimmun. Vasella leaves the other units--including generic drugs, animal health, Gerber, the eye-care unit CIBA Vision and over-the-counter medicines--in the hands of trusted lieutenants. Novartis announced earlier this year that it will divest the unit that makes foods such as Ovaltine. Some analysts say Novartis could pick up its growth if it got rid of more of its noncore businesses. But Vasella argues...
...they were chosen. But while Vasella has taken aim at larger markets, he has ensured that more specialized products, such as ophthalmologic drugs, are not neglected. If there is enough of an unmet medical need, they too can be enormously profitable. David Epstein, head of Novartis' oncology unit, observes that a drug that works well on a limited population can build its market over time simply by keeping its users alive...
Vasella has also revamped Novartis' marketing force in the U.S., where it long lagged behind competitors. He poached Paulo Costa from Johnson & Johnson in 1999 and made him CEO of Novartis' U.S. drug unit. Since then, Costa's sales force has grown to 5,800 from 2,815. The payoff? Drug sales in the U.S. grew 24% last year...
...they dropped six of their last eight Ivy matches to close out the season. But one year later, the Crimson finds itself ready to jump on the hardwood with a surprising new weapon in its artillery: a deep bench.Bolstered by a promising freshman class and a deep sophomore unit with one year of Ivy League play under its belt, the team will look to incorporate its youth in the new up-tempo playing style that Amaker has installed. “I’m not sure what the coaches are thinking in terms of rotation...