Pharmaceutical company Novartis is cutting 8,000 jobs worldwide

A production site of the Basel-based pharmaceutical company Novartis, which wants to cut 8,000 jobs worldwide.
Image: dpa

The Basel-based company is repositioning itself and cutting seven percent of its jobs. In Switzerland alone, 1,400 jobs are lost.

D.he restructuring of the Swiss pharmaceutical giant Novartis will cost the work of as much as seven percent of the workforce. Approximately 8,000 jobs will be lost as the core business realigns to proprietary drugs, the company said on request on Tuesday. “This restructuring could affect 1,400 jobs in Switzerland, out of a total of around 8,000 jobs that will be affected worldwide.” The job cuts will be implemented in the coming months, the company said. Novartis is aware of the impact of the transition on its employees and will support them in their career reorientation. The Basel-based drug manufacturer employs 108,000 people worldwide and around 11,600 in Switzerland.

Novartis announced in April that it will position the dominant business with proprietary drugs – called Innovative Medicines – geographically rather than therapeutic areas and will focus more on the important US market. This and other changes are expected to reduce overall sales expenses by at least $ 1 billion by 2024. Last year, the group generated more than 80% of its sales and more than 90% of its operating profit with patent protected drugs. Sandoz’s second pillar, the imitative drug business, has been put to the test by Novartis and intends to decide its future by the end of the year. All that was known so far was that Novartis would likely cut thousands of jobs in the restructuring of innovative medicines. The “Tages-Anzeiger” newspaper had previously reported on specific job cuts.

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