The Wall Street Journal-20080215-Head of Novartis Unit Resigns

Return to: The_Wall_Street_Journal-20080215

Head of Novartis Unit Resigns

Full Text (131  words)

Alex Gorsky, the head of Novartis AG's pharmaceuticals business in North America, is leaving the Swiss drug company to return to Johnson & Johnson.

Mr. Gorsky will be company group chairman of Ethicon Inc., a unit of Johnson & Johnson that makes surgical equipment and sutures, a Johnson & Johnson spokesman said. Mr. Gorsky joined Novartis in 2004 from Johnson & Johnson.

His departure comes as Novartis's new global head of pharmaceuticals, Joseph Jimenez, attempts to shake up the unit and improve its performance.

The unit's sales and earnings have been hurt in recent quarters by generic-drug competition and tough U.S. regulatory scrutiny.

A Novartis spokeswoman said Mr. Gorsky's departure wasn't tied to the changes Mr. Jimenez change is implementing. She added that Novartis hasn't named a successor to Mr. Gorsky.