Strategic sourcing is key focus for Novartis. (News).(Brief Article)

Chemical Market Reporter, June, 2003

AS PHARMACEUTICAL companies face greater cost-cutting pressures and the ongoing need for higher financial returns, strategic sourcing is emerging as an important tool.

"The business model for the pharmaceutical industry is undergoing rapid change," said Farryn Melton, executive director of strategic sourcing for Novartis Pharmaceuticals Corp., the North American arm of Novartis AG, speaking at the Know Your Industry conference held by the Drug, Chemical and Allied Trades Association (DCAT) in East Brunswick, N.J., earlier this month. "Industry-wide, we are seeing increased mergers and acquisition activity, combined with greater cost pressures in bringing new drugs to the market," she says.

To help realize its goals in cost-cutting and growth,...

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