Novartis names Bulto as new head of U.S. drugs business

Swiss drugmaker Novartis <NOVN.S> has named company veteran Victor Bulto as head of its U.S. pharmaceuticals business, effective on Sept. 1.

He replaces Fabrice Chouraqui, who will step down at the end of August, Novartis said in a statement.

It gave no reason for the switch, which comes as the drugmaker faces U.S. scrutiny over its handling of a case of manipulated data linked to its $2 million per treatment gene therapy, Zolgensma.