Novartis said Monday it will fuse its pharmaceuticals and oncology units into an innovative medicines (IM) business. The move is part of a restructuring designed to create $1 billion in savings by 2024 and bolster its U.S. business. 

The IM unit will be split into U.S. and international commercial divisions, each with its own P&L responsibility. 

“The elevation and establishment of an independent U.S. commercial organization strengthens Novartis’s ability to achieve its goal of becoming a top-five company in the U.S. in terms of sales while maintaining and growing its leadership position internationally,” the Swiss drugmaker said in a statement, adding that savings of “at least” $1 billion are expected.

The IM group will be headed by Marie-France Tschudin, who becomes president, IM international and chief commercial officer. Tschudin, currently head of Novartis Pharmaceuticals, will oversee global marketing, medical affairs and value and access across all therapeutic areas.

Victor Bulto, currently head of U.S. pharmaceuticals, will become president of IM in the U.S. Both will report to CEO Vas Narasimhan.

Novartis is also combining its corporate strategy, R&D portfolio strategy and business development into a new strategy and growth function. The company said Lutz Hegemann, president of global health, will lead the group as interim manager until a permanent chief strategy & growth officer is found.

Other high-profile personnel moves include Shreeram Aradhye rejoining as president of global drug development and chief medical officer and Steffen Lang becoming president of operations. Lang will oversee a streamlined operations unit that integrates the technical operations and customer and technology solutions units. 

John Tsai, head of development and chief medical officer, is leaving the company, as are Susanne Schaffert, president of Novartis Oncology, and Robert Weltevreden, president of customer and technology solutions.

Narsimhan told the Financial Times that the moves to simplify his firm’s org chart continue a “transformation journey” begun in 2014. He added that they were not made in response to external pressure.

The Novartis revamp follows significant divestments of its consumer health and eyecare businesses. The fate of generics business Sandoz, meanwhile, is set to be decided by year’s end.