Business & Tech
Novartis to Close La Jolla Facility
Novartis, a heath care products firm, plans to close two sites in Europe, move staff from California to the East Coast and cut 500 jobs, including those in La Jolla.
Novartis spokesman Eric Althoff told Bloomberg News that the firm will close the biotherapeutics development unit in La Jolla, in addition to closing two sites in Europe and transferring cancer research facilities from Emeryville, Calif. to Cambridge, Mass.
The Switzerland-based health care products firm employs more than 125,000 people, according to Bloomberg.
"We are taking action to co-locate scientific resources in order to improve the efficiency and effectiveness of our global research organization," Althoff told Bloomberg.
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