Economy

xchrom

(108,903 posts)

59. Novartis to cut 1,960 jobs in US

Fri Jan 13, 2012, 11:31 AM

Jan 2012

http://www.bbc.co.uk/news/business-16544223

Swiss drugmaker Novartis has announced plans to cut 1,960 jobs in the US.

The company said the move reflected the impending loss of its patent on blood pressure drug Diovan and expected lower sales of one of its hypertension drugs.

Some 1,630 jobs will go from its sales force and another 330 positions from the reorganisation of the headquarters of its US general medicines business.

Other pharmaceutical firms have also cut their sales forces as the industry faces a wave of patent expiries.

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