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India Arms Of Drug MNCs To See Some Cost-Cutting Benefit – Novartis India Head

This article was originally published in PharmAsia News

Executive Summary

Indian subsidiaries of multinational pharmaceutical firms are feeling the pains of their parents in trying to weather the global financial crisis. Several are laying off Indian employees to reduce costs, and an expectation that layoffs abroad would lead to job safety in India has not been realized. Fortunately for subsidiaries in China and India, they are relatively small compared with the MNC, so the cost cuts are not expected to be as deep. The head of Novartis AG's Indian arm said the cost-cutting moves by MNCs is expected to lead them into more outsourcing, benefiting countries such as India. (Click here for more

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