Sunday, September 25, 2011

Novartis cut 2,500 jobs globally-paper | Reuters

(Reuters) - Swiss drugmaker Novartis is in the process of cutting 2,500 jobs at sites across the world in a bid to control costs, daily Tages Anzeiger reported on Saturday.
Like many pharmaceutical companies, Novartis is starting to face generic competition, with its breast cancer drug Femara and its blood pressure medicine Diovan losing patent protection.
A spokesman for Novartis said the firm could not confirm that number.
Novartis' rival Roche has announced it would cut several thousand jobs in a cost-saving drive.
(Reporting by Catherine Bosley; Editing by John Stonestreet)

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