ZURICH Feb 2 Swiss drugs group Novartis
is planning to cut or transfer up to 4,000 jobs,
newspaper NZZ am Sonntag reported on Sunday, citing an internal
The plan affecting up to 6 percent of its pharmaceuticals
workforce comes on top of a programme to reduce the number of
production sites and is part of a larger drive to cut costs, the
Global drugmakers are under increasing pressure from
investors to step up restructuring as patents on best-selling
drugs expire and governments try to keep a lid on health costs.
NZZ am Sonntag said it received a statement from Novartis
saying that the overall number of employees should remain
"relatively stable" in 2014.
The paper said that a significant part of the 4,000 jobs
will be transferred to India, where Novartis rented an office
building able to house 8,000 employees in Hyderabad.
A Novartis spokesman was not immediately available to
Novartis, which will face copycat competition for blood
pressure pill Diovan once Ranbaxy Laboratories
overcomes regulatory delays for its generic version, posted
lower than expected core earnings per share last week.
The company is also conducting a review of its
over-the-counter, animal health and vaccines businesses, which
lack the global scale of its pharmaceuticals operations.
(Reporting by Silke Koltrowitz; Editing by David Goodman)