- Novartis (NVS) intends to axe up to 500 Swiss positions at its pharmaceutical division but add several hundred jobs in fields such as oncology development, over-the-counter manufacturing and supply chain management at its generics subsidiary Sandoz.
- The reorganization should lead to an equal number of jobs being cut and created, meaning that Novartis' Swiss headcount should remain stable at around 15,000.
- The idea behind the restructure is to support drug launches this year, including those for branded and generic respiratory treatments, as well as for drugs for heart disease, lung cancer and skin disease.
- The announcement comes after Novartis said in November that it would shut sites in England and Austria, and cut around 500 R&D jobs. (PR)
at Zacks.com (Nov 18, 2014)