Industry ranking
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2024 - 31 Dec 2024 | 27 Jan 2025 | 44 | 40% | 22% | 38% | 49% |
| 01 Jan 2024 - 30 Jun 2024 | 22 Jul 2024 | 52 | 11% | 46% | 43% | 31% |
| 01 Jul 2023 - 31 Dec 2023 | 17 Jan 2024 | 56 | 14% | 41% | 45% | 19% |
| 01 Jan 2023 - 30 Jun 2023 | 19 Jul 2023 | 49 | 15% | 57% | 28% | 16% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 51 | 10% | 61% | 29% | 7% |
| 01 Jan 2022 - 30 Jun 2022 | 20 Jul 2022 | 50 | 10% | 63% | 27% | 10% |
| 01 Jul 2021 - 31 Dec 2021 | 25 Jan 2022 | 55 | 6% | 61% | 33% | 8% |
| 01 Jan 2021 - 30 Jun 2021 | 15 Jul 2021 | 54 | 11% | 52% | 37% | 16% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 56 | 7% | 53% | 40% | 15% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 48 | 19% | 54% | 27% | 19% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 61 | 7% | 56% | 37% | 33% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 60 days following the invoice receipt at Novartis. Depending on the commercial situation, variations to these standard terms might be negotiated on some occasions.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
120
First point of contact for disputes or concerns is the Procure-to-Payment team within the Novartis Global Services Centre, for which all suppliers have contact details of. In addition to that, new suppliers receive an on-boarding pack, which includes information on issue raising and related points of contact. When an invoice dispute is received, it should be resolved at point of contact with the Procure-to-Payment team. If this is not possible, the query will be escalated to the Business contact and relevant senior Finance contact or P2P Business Partner. Timelines of escalation vary, depending on the nature of the query. When resolved, the invoice will be available for payment on the next standard payment run.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Novartis Grimsby Limited is a long-established UK registered company, incorporated in 1920, forming part of the wider Novartis group, a Switzerland-based global healthcare business that discovers and develops medicines for patients worldwide. Companies House lists its nature of business as manufacture of dyes and pigments, inorganic basic chemicals, plastics in primary forms and basic pharmaceutical products, indicating a role in pharmaceutical and chemical manufacturing within the group's supply chain. The wider Novartis group focuses on healthcare innovation, working with patients, caregivers and healthcare professionals globally, but this entity itself functions as a manufacturing site or subsidiary rather than the group's overall trading or research operation.
Generated from the company's website and Companies House records. Sources: novartis.co.uk · novartis.co.uk