No drug needed to figure out this Novartis action

Novartis to Cut 2,000 Swiss, U.S. Jobs, Add Staff in China - Bloomberg: "“Job cuts are happening in almost all large pharma companies,” said Tim Race, an analyst at Deutsche Bank AG in London. “It’s a consequence of squeezing prices, squeezing profitability. Pharma companies are reacting to maximize profitability, which is something they should be doing anyway.” He recommends buying Novartis shares.
Novartis will eliminate 1,100 jobs in Switzerland, with the balance in the U.S., Jimenez said. Some research will be moved to the U.S. from Switzerland, and reductions will be made in technical research and development, data management, clinical trial monitoring, drug safety and regulatory affairs. Novartis will add 700 positions in China and India in data management and trial monitoring, he said."

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