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GEN News Highlights : Apr 24, 2013

Novartis Cuts 300 Jobs, Names New CFO

Reporting its first-quarter financial results this week, Novartis announced a restructuring of its Lincoln, Nebraska manufacturing plant affecting 300 positions—40% of the total workforce at that site. The pharma giant also named Harry Kirsch its new CFO.

Novartis plans to reduce staff at the Nebraska plant in phases during the next two years, in order to shift its focus on two product forms, the company said. “This will enable the site to focus on operational excellence, with minimal product complexity,” according to a Novartis statement.

Kirsch, who was previously CFO Pharmaceuticals, has been promoted to Group CFO, the company said. He replaces Jon Symonds, who is being made advisor to the CEO through the end of the year.