Novartis AG, Europe’s second-biggest pharmaceutical company, plans to eliminate 2,000 jobs in Switzerland and the U.S. to offset the effect of reductions in drug prices.
The cuts will be implemented over three to five years, and Novartis will create 700 new positions in low-cost and other countries, the Basel, Switzerland-based company said in a statement today. Novartis plans to close a plant in Nyon, Switzerland, that makes over-the-counter drugs and chemical sites in Basel and Torre, Italy. The company will take a fourth- quarter restructuring charge of about $300 million.
“These actions are necessary to ensure that we adapt our organization to continue delivering on our mission of bringing innovative new drugs to patients,” Joe Jimenez, Novartis’s chief executive officer, said in the statement. (Más)
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About 1,100 jobs will go in Switzerland, and the other 900 will be lost in the USA. The losses will be offset by 700 new positions "in low cost and other countries", notably China and India.
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