Novartis has restructured its Pharmaceuticals Division by creating two business units—Novartis Pharmaceuticals and Novartis Oncology. Both units will form the Innovative Medicines Division. Paul Hudson will be appointed chief executive officer, Novartis Pharmaceuticals, and Bruno Strigini will become chief executive officer, Novartis Oncology. Both will report directly to Joseph Jimenez, chief executive officer, Novartis. With these changes, David Epstein, currently division head and chief executive officer, Novartis Pharmaceuticals, has decided to leave the company.

Novartis said the new structure reflects the importance of oncology to the company following the integration of the oncology assets acquired from GSK.

From July 1, 2016 Novartis will continue to have three focused, customer-facing divisions: Innovative Medicines (formerly the Novartis Pharmaceuticals division), which will include the Novartis Pharmaceuticals and Novartis Oncology business units; Sandoz, the generics and biosimilar division, which includes the retail generics, anti-infectives and biopharmaceuticals franchises; and Alcon, the eye care devices division, which includes the surgical and vision care franchises.