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Published Wed, Oct 26, 2011 04:20 AM
Modified Wed, Oct 26, 2011 06:47 AM

Novartis warns of U.S. job cuts

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BY JOHN MURAWSKI - STAFF WRITER

Drugmaker Novartis said Tuesday that it's planning to eliminate 2,000 jobs in Switzerland and the United States in response to falling drug prices.

The Swiss company did not specify how the cuts would affect its operations in North Carolina, where the company employs 960 people in Holly Springs, Wilson and Greensboro.

The pharmaceutical company blamed declining reimbursements from government employers for the cuts, which are expected to take place in the next five years.

At the same time, Novartis plans to fill hundreds of positions in India and China.

Novartis employs about 300 at its Holly Springs flu vaccine plant.

The billion-dollar facility opened in November 2009.

It is expected to be engaged in full-scale commercial production of seasonal flu vaccine by 2013.

The company also makes generic medications in Wilson and animal health products in Greensboro.

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