Novartis taps Bernstein’s Gal for new C-level strategy and growth position

Weeks after Novartis CEO Vas Narasimhan stressed the need for a new C-level officer to set priorities around R&D and deal-making decisions, the pharma company has named Sanford Bernstein analyst Ronny Gal to fill the position.

Effective by Aug. 1, Gal will become the first chief strategy and growth officer at Novartis AG (SIX:NOVN; NYSE:NVS). On an April 4 conference call, Narasimhan said the company was seeking someone to work alongside R&D to “prioritize the portfolio in an independent way,” with an eye toward “high-value” products with at least $2 billion in potential peak sales. Novartis has identified about 20 pipeline candidates in that category, but could also make deals...