Novartis Closes Biologics R&D Ops at its Shanghai Center

As part of a global consolidation, Novartis announced it would close down its Shanghai biologics R&D operations, cutting 18 jobs. In June, the Swiss biopharma officially opened its new $1 billion Shanghai R&D center to great fanfare. Most of the center's work will be unaffected. Novartis' Shanghai NIBR (Novartis Institutes for Biomedical Research) currently employs 500, the company said, and its mission remains to develop novel therapies that address unmet needs of China patients. More details.... Stock Symbol: (NYSE: NVS) Share this with colleagues: // //