Novartis Announces 139 Layoffs in New Jersey Amid Ongoing Restructuring Efforts

Layoff Details:
Novartis is laying off 139 employees at its East Hanover, New Jersey location, primarily affecting commercial field sales teams for Xolair, Tafinlar, and Mekinist145.

Timeline:
The layoffs will start in February 2025 and run through August 20251.

Restructuring Context:
This move is part of Novartis's broader restructuring effort, which includes a goal to save around $1 billion in operations costs through 2024. The company previously announced up to 8,000 job cuts in June 20221.

Business Strategy:
Novartis is focusing on pipeline investments, including the potential acquisition of Kate Therapeutics and a radiopharma deal with Ratio Therapeutics, to deepen its neuromuscular expertise and expand its radiopharma capabilities1.

Impact on Medicines:
Despite the layoffs, Novartis has assured that the affected medicines will remain available to patients1.

Sources:

1. https://www.biospace.com/biospace-layoff-tracker

4. https://firstwordpharma.com/story/5917111

5. https://www.fiercepharma.com/pharma/novartis-plots-more-100-layoffs-new-jersey-part-rework-xolair-tafmek-field-teams-ahead-new