Biotech Values

[DewDiligence]

Novartis to issue stark warning to UK at crisis meeting:

http://www.pmlive.com/pharma_news/novartis_to_issue_stark_warning_to_uk_at_crisis_meeting_451794

The company is expected to tell government and NHS representatives that the UK is failing to keep up with emerging economies in terms of pharmaceutical competitiveness and is risking jobs and investment going overseas…

…Novartis has already downsized in the UK, with cutbacks at its manufacturing and R&D facility in Horsham announced last year affecting 550 jobs, although it has committed to keeping part of the site open, including its respiratory R&D operations.

…In a speech due to be delivered tomorrow, [NVS CFO] Symonds is expected to say that Novartis has made considerable investments in recent years in China, Russia and Brazil because these countries "have each recognised the need to shift from being a consumer of innovation to a generator of innovation".