Business & Finance
Novartis cut 2,500 jobs globally
ZURICH : Swiss drugmaker Novartis cut 2,500 jobs at sites across the world in a bid to control costs, the daily Tages An
1 min
By
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's local rival Roche has announced it would cut several thousand jobs in a cost-saving drive.
Copyright Reuters, 2011