Novartis to cut 680 jobs in product development: Report

Nearly 440 of these jobs will be cut in Switzerland and up to 240 in the United States within the next two to three years, reported Reuters.

These reductions are separate from a larger restructuring initiative that may result in up to 8,000 job cuts from Novartis's total global workforce of 78,000, the report said.

In a similar move, Roche, a competitor based in Switzerland, disclosed earlier in the year its decision to eliminate 345 positions from its product development sector.

Currently, Novartis employs around 12,500 individuals in development roles, covering responsibilities such as drug regulation, analytics, and support functions like quality assurance.

These personnel are also engaged in shaping the production processes for drugs following the completion of research activities.

About 3,000 of these positions are situated in Switzerland and 2,000 in the United States, indicating that approximately 14% of roles in these countries will be impacted.

However, Novartis plans to introduce new positions over the coming two to three years, resulting in an overall net reduction of 1-2% globally, the Reuters report said.

The company stated that these changes aim to reconfigure its capabilities to tap into local talent pools, including data scientists and regulatory specialists in Britain.

Despite the workforce adjustments, Novartis affirmed its dedication to development endeavours in both Switzerland and the United States.

According to the Reuters report, a company spokesperson said, "We remain committed to development in Switzerland as our innovation hub for complex development, and providing strategic leadership as the global headquarters for development.

"The US remains a key development hub with strong representation in our global program teams, responsible for advancing our medicines pipeline."