trending Market Intelligence /marketintelligence/en/news-insights/trending/ymba7BIheJs3VQK7DpkZaA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Novartis closing generics manufacturing division in Colorado, affecting 450 jobs

COVID-19 Pandemic Likely To Cause US Telemedicine Boom

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Novartis closing generics manufacturing division in Colorado, affecting 450 jobs

Novartis AG is shuttering its Sandoz generic-drug manufacturing division in Broomfield, Colo., The Denver Post reported, citing company spokeswoman Sofina Mirza-Reid.

The closure, which will affect about 450 jobs, will be completed in phases and the company will transfer operations to a plant in Wilson, N.C. The closure and transfer are expected to be completed in the fourth quarter of 2019.

"Double-digit price erosion caused by customer consolidation and increased competition taking place within the U.S. generic drug market" caused the company to see above-average pricing pressure in the U.S., the news outlet reported, citing Mirza-Reid.