http://www.fiercebiotechit.com/story/report-novo-nordisk-file-it-unit-ipo-coming-days/2014-10-17 Novo Nordisk ($NVO) is reportedly set to unveil details of an IPO of its IT services business NNIT in the coming days. The Danish drugmaker has spent most of 2014 assessing whether to spin off the unit as an independent company. Danish daily newspaper Berlingske appears to have the inside track on the story, reporting that NNIT will file papers for an IPO on Nasdaq Copenhagen on October 22. If the plan proceeds to the forecast schedule, shares in NNIT will begin trading on November 14, exactly 14 years after Novozymes spun out of Novo Nordisk. The independent company is expected to be valued at more than $515 million, with some reports suggesting it could near $680 million. Novo Nordisk reportedly plans to keep a 25% stake in NNIT, with Novo A/S--the Danish drugmaker's major shareholder--buying a further 25% of the shares. The plan is for Novo A/S and Novo Nordisk to own just more than 50% of the shares. New investors will own the rest of NNIT. Reports from when the IPO was first mooted in January suggested Novo Nordisk would hold on to a bigger stake of the company. If the reported ownership structure is correct, it could be a way for NNIT to try to expand its business with other drugmakers. NNIT has operated as an independent firm since 1998--and is set to generate half of its sales from companies other than Novo Nordisk this year--but its ownership structure may have deterred some potential clients. By cutting its stake from 100% to 25%, Novo Nordisk could eliminate some of the reservations its rivals may have about working with NNIT. http://www.nnit.com/switzerland Make your mark on a company that’s passionate about IT for life sciences Be a part of NNIT’s expansion in Switzerland. We are a fast-growing company with ambitious goals and a strong specialization in IT for life sciences. From out branch office in Zürich, NNIT supply IT services and consulting to international life sciences companies that demand high levels of quality and security. We offer challenging IT and consulting projects and a chance to work with some of the world’s most prestigious clients. We believe that ambitious and talented people who can think and act independently should be allowed to do so. However, we also believe in teamwork where everyone is close to both the customer and the decision-making process. This way of working makes it easier to achieve success for both the organization and the individual employee. NNIT respects the balance between your work and family life. At NNIT in Switzerland, you’ll work in agile teams with other passionate people in a culture with room for independent thinking and individual responsibility. In NNIT as a whole, we work with a special conscience, where we take on the responsibility for our clients' IT as if it were our own. Employee benefits We offer an attractive salary package according to your experience and seniority. Your dedication and results are additionally rewarded with personal performance bonuses. Our employee benefit package consists reduced prices in the canteen and a transportation card for the city of Zurich, fresh fruit and tea/coffee in the office plus other benefits programs. With Best Regards, The Internet
http://www.nnit.com/united-states About NNIT United States Our Princeton office is placed in the so-called pharmaceutical corridor which is located between Boston and Philadelphia. The office has primarily been established to service NNIT’s international pharmaceutical customers and will ensure employment for senior Life Sciences business consultants. The office was established in 2012. Read more about our Life Sciences services. Find us here NNIT U.S. 650 College Road East, 3rd floor Princeton, New Jersey 08540 USA Tel: +1 (609) 955 4949
http://www.nnit.com/czech-republic About NNIT Czech Republic NNIT has two offices in the Czech Republic – one in Prague and one in Olomouc. Our first Czech office opened in Olomouc in 2006 and primarily renders services within ERP (SAP) development and application maintenance. In February 2014, we inaugurated our office in Prague which accommodates around 50 employees. The foundation of the Prague office is IT infrastructure operations such as SAP (Basis), network and server operations, storage services and back-up operations for customers primarily based in the European region. The Prague office is also part of NNIT’s 24/7 Global Operations Center setup and as such delivers services in close cooperation with the delivery centers in Denmark, China and the Philippines. From Prague NNIT also delivers multilingual service desk support to customers requiring end-user support in different European languages. With this newly established office, NNIT will be able to offer near shoring delivery for customers who demand that their data do not leave the EU, and we have increased our hiring base of experienced SAP professionals and other IT specialists. Find us here NNIT Czech Republic Explora Jupiter Bucharova 2641/14 2.NP CZ-158 00 Prague 5 Lazecka 568/53A CZ-77900 Olomouc Tel: +420 585 204 821
Absolutely. Why would Novartis not seek to drop a huge cost center and potentially turn it into a small revenue generator? They get it off the books and a nice pop in stock, to boot. A few more things to consider: 1. Why would AW take the job leading a shared service organization as opposed to heading a the largest market of the company? Unless he were to be a CEO... 2. JR, unlike his predecessor DV, has been clear: divesting and focusing on core business is the way of the future. And NBS is JR's baby - not JJ's. 3. Small and innocuous though it may seem, changing your Intranet home page to NBS from your previous division is a psychological ploy designed to facilitate change whilst minimizing business disruption. Today, your Intranet home page. Tomorrow, your paycheck - if you survive. "Come to work for NovaTech! You won't have NVS options or a bonus, but we do offer a highly competitive compensation package based on today's market rate...in India." I am interested in hearing other's views.
Point 1. Astute observation ;-) Point 2. Correct. Which is why DV passed him over choosing JJ instead. Fundamental disagreement over NVS's future; can't have the CEO and Chairman butting heads like that. JJ has actually more power now than he did under DV, but this is also a double-edged sword. See Point 1. Point 3. Snarky (wo)man you ;-)
No. GIS is a critical module of NBS IT and its evolution depends on the appetite NITB has for the external cloud, which doesn't look like much. But, anything can happen...
Next round of NBS IT org announcements coming on Dec 1. Will be interesting to see if it's only next level of managers or layoffs/repositioning of roles (Prague & India) as well. Maybe they will leave the layoffs until after Christmas. It's going to be a rough road for many over the next 4 months! Get your CV up to date. Glad to be in the "Retirement ready" group!!
Put it all in the cloud - Novartis IT will be 12 people - 9 of whom are cloud sourcing people Saves cost for everyone- easily below 3 in 3 Start applying to Google now!
we will not need apply. war for talent between MS, GOOG, (dare i say IBM) for our NBS IT organization. 3 years to become the healthcare service industry's top centralized, IT infrastructure and applications delivery team. able to support NVS and any other health care company who cares and cures humanity better than us.
GIS was a failure, why should NBS be any different. NIBR has the only effective IT group in NOVARTIS and, atleast for the short term, they will not integrate into NBS
but JJ said in his latest values and behaviors video that it's OK to fail. without failing, how else can the entire organization grow? you guys have the biggest ITverall divisional budget in the company. is it any surprise that quality actually costs something? RE is one smart, influential dude. NIBR may have an "effective" IT group (wouldn't say it's the only one in NVS), but that only matters if the NIBR division as a whole is "effective". why did we have to buy GSK's oncology portfolio?
