Novartis Sheds Jobs In U.S. And Europe

Novartis is shedding about 500 jobs in its pharmaceuticals division in Switzerland while it redeploys resources to prepare for the launch of several branded and generic products this year. Most of the job losses will come from support and operational positions at its Basel headquarters. About an equal number of jobs will be added in oncology development, over-the-counter medicine manufacturing, and the Sandoz generics business. Separately, the Swiss drug firm is shutting down a manufacturing plant in Suffern, N.Y., after the loss of patent protection in late 2012 on its blood pressure drug Diovan. The closure of the site will cost some 525 jobs.