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Novartis announced Tuesday that it will slash more than 2000 jobs by 2022, including eliminating 1700 positions in Switzerland and around 400 roles in the UK. The move comes as the company consolidates production and shifts positions elsewhere to boost profitability.
Under the overhaul, 1000 jobs will be lost in Switzerland as Novartis continues to adapt its global manufacturing network, with a further 700 employees in the country cut as the company implements its service business strategy. Meanwhile, the drugmaker will also shutter its manufacturing site in Grimsby, UK by 2020.
According to Haseeb Ahmad, Novarits' UK country president, the decision to close the Grimsby site is part of a global production strategy and "not linked to the decision of the UK to leave the EU." Ahmad added "Novartis remains committed to the UK and believes that the UK is a world leader in life-sciences." (Ver)
- -CEO Vasant Narasimhan intends to focus the company on "personalized and specified" medicines. Consistent with this strategy, the company plans to divest its Alcon unit, valued at $20B, and back away from research in antibiotics and antivirals. Recently, it announced the sale of Sandoz unit's U.S. oral solids portfolio to India's Aurobindo Pharma for $900M.
- -Previously: Novartis offloads parts of Sandoz U.S.(Sept. 6) (Más)
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