Supplies from China stable for now, but monitoring situation: Novartis’ Vas Narasimhan

Ref: Business Line
  • Even as the COVID-19 outbreak casts a shadow of uncertainty on supplies sourced from China, Novartis CEO Vas Narasimhan said supplies are stable for now, but the company is monitoring the evolving situation, reported Business Line.

  • "In terms of our supply chains, for now we're in good shape. We hold safety stock across our portfolios...it gives us enough time to manage. Most of our production facilities are not in Wuhan province," he noted.

  • "For now, we have guided to no impact on our financials this year," the executive added, but the evolving situation will become clearer in the coming months.

  • In regards to Novartis staff, Narasimhan said "what I can say right now is that we have opened our offices again and we have given our people flexibility over from where they work; some are opting to come in and some are opting to work from home."