Good morning, everyone, and how are you today? We are doing just fine, thank you, despite a steady downpour dousing the Pharmalot campus. The premises are rather quiet, now that the short people have left for their destinations — the local schoolhouse and gainful employment, to be specific. And the official mascots are snoozing in various corners. This leaves us to fire up the coffee kettle and rummage for interesting items. On that note, here are some tidbits to brighten your day. Hope all goes well and, of course, do keep us in mind when you learn something fascinating …

Novartis (NVS) will cut 2,500 jobs in Switzerland and the U.K. over four years, as the drug maker strives to boost profits and focus on new medicines, Reuters says. Nearly 1,500 jobs are affected in production and about 700 in services. The move comes in response to a reduced product portfolio, a network of 66 global factories that is operating below capacity after the expiry of patents on big-selling pills, and a greater focus on personalized medicine. “We don’t need the same scale we’ve historically needed,” says chief executive Vas Narasimhan.

Unlock this article by subscribing to STAT Plus and enjoy your first 30 days free!


What is it?

STAT Plus is a premium subscription that delivers daily market-moving biopharma coverage and in-depth science reporting from a team with decades of industry experience.

What's included?

  • Authoritative biopharma coverage and analysis, interviews with industry pioneers, policy analysis, and first looks at cutting edge laboratories and early stage research
  • Subscriber-only networking events and panel discussions across the country
  • Monthly subscriber-only live chats with our reporters and experts in the field
  • Discounted tickets to industry events and early-bird access to industry reports

Leave a Comment

Please enter your name.
Please enter a comment.

Sign up for our Daily Recap newsletter

A roundup of STAT’s top stories of the day in science and medicine

Privacy Policy