What does it take to be successful in the health care industry in 2015? The answer depends on many factors, but it is perhaps a more vexing question now than it has ever been before.
For Joseph Jimenez, CEO of pharmaceutical giant Novartis, one of the integral factors to his company’s success is innovation.
“Investing in innovation is such a critical factor for our industry,” Jimenez said. “In order to win, you better be science-based and you better be good at innovation. You have to be first in class or best in class in any new product you bring.”
Jimenez discussed the importance of innovation, and how Novartis has shaped its strategy around this principle, at the Johns Hopkins Carey Business School last month. The talk was entitled “A Time for Change: The Future of Healthcare” and was part of the school’s Leaders + Legends speaker series.
Jimenez spoke about why Novartis’ innovation-centric strategy is critical in today’s health care environment before engaging the audience – which included several students in Carey’s Healthcare Management program – in an in-depth Q and A session.
Click here to watch the full discussion, including the Q and A.
Jimenez has been CEO of Novartis since 2010. Under his leadership, the company has committed heavily to R&D investment, which has led to new breakthroughs and one of the largest pipelines of self-originated drugs in the industry.