Dark times ahead for Novartis in the United States.
The Swiss pharmaceutical giant will in fact have to cut 1,960 jobs in its US division due to a series of adverse factors.
Among these, the loss of the Diovan patent, the flop of Rasilez, a drug for controlling high blood pressure that failed to become a blockbuster as hoped, and the halt of research on two experimental drugs, which will cost the company about 160 Millions of dollars.
The restructuring, which is expected to deliver annual savings of approximately $450 million by 2013, will impact the company's bottom line over the next six months.
Novartis is not the only multinational pharmaceutical company experiencing crisis moments: in fact, there are many companies suffering from increasingly fierce competition from generic drugs, as the patents of the best-selling drugs gradually expire.
January 13, 2012 
