Novartis (NYSE:NVS) is one of the planet's biggest drugmakers, but it's facing significant challenges now that Ranbaxy has won FDA approval for its Diovan generic alternative.

To blunt the impact of lost sales, Novartis' is orchestrating a restructuring that includes an oncology deal with GlaxoSmithKline (NYSE:GSK) and selling its animal health business to Eli Lilly.

Novartis

Source: Novartis

In the following slideshow, I outline five important questions investors will want answers to during Novartis' second quarter earnings conference call on July 17th.

Todd Campbell has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.