Novartis to cut jobs.

Fonction NEWS

Novartis AG has become the latest major drug company to slash jobs as industry costs rise, more patents expire and researchers continue the scramble for the next blockbuster product.

The Basel-based drug company cited troubles in its U.S. business and blamed generic competitors among other factors. The company had already announced in October that it would slash 1,260 marketing and sales jobs in the United...

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