Picture of Novartis AG logo

NOVN Novartis AG News Story

0.000.00%
ch flag iconLast trade - 00:00
HealthcareConservativeLarge CapHigh Flyer

Novartis to cut 220 jobs as it closes German site (updated)

Adds Novartis statement

May 5 (Reuters) - Swiss drugmaker Novartis NOVN.S said on Tuesday that it is set to cut around 220 jobs in Germany as part of the planned closure of a production site by the end of 2028.

The production site in Wehr, Germany, which manufactures tablets and capsules, is no longer competitive, the Swiss company said in a statement.

The planned site closure is not related to Novartis' recent ramp-up in investments into U.S. manufacturing following U.S. tariff threats, nor connected to Germany’s new healthcare measures, Novartis told Reuters separately in an email. The company remains committed to Germany as a location, it added.

 (Reporting by Marleen Kaesebier and Maggie Fick; editing by Matthias Williams)

 ((marleen.kaesebier@thomsonreuters.com;))

Recent news on Novartis AG

See all news