Contents

 

 

 

Overview

2
  Financial Highlights
3
  News in 2003
Letter from Daniel Vasella
5
  The New Number Five in Pharmaceuticals

Division and Business Units

9
 
Pharmaceuticals

Giving Thalassemia Patients a Choice
Discovering Pharmaceuticals Reliably and Predictably
The Long Road to Blood-Pressure Control
Treating Breast Cancer Will Never Be the Same
Epilepsy - Putting Children First
A New Frontier in the Fight Against Severe Allergic Asthma
Two Decades of Leadership in Transplantation
Hearing the Patient, Healing the Patient - Irritable Bowel Syndrome
The Right Note: Saving a Singer’s Sight

32
 
Consumer Health

Sandoz - Building a World Leader in Generics
OTC - The Value of Global Brands
Animal Health - Up and Running, Despite Arthritis
Medical Nutrition - A New Relevance for Cancer Patients
Infant & Baby - Alerting Parents to the Dangers of Childhood Obesity
CIBA Vision - Innovation in Focus

Corporate Citizenship

45
 
Active Societal Engagement
Health, Safety and Environment
57
  Turning Strong Commitment Into Firm Actions
Human Resources
69
  Fulfilling Career Aims

Corporate Governance Section

77
 
Corporate Governance
90
  Board of Directors
94
  Executive Committee
96
  Business Unit Heads


Financial Report


99
 
Operating and Financial Review
111
  Equity Strategy and Share Information
118
  Group Consolidated Financial Statements and Notes
152
  Principal Companies
154
  Reconciliation to US GAAP

166

  Financial Statements of Novartis AG

Due Dates for Reporting in 2004

172
   
Contacts
173
   
  Front cover: Mother and her sick child, Mumbai, India 1