Novartis Says It Hired Over 1,600 Amid Job Cuts Speculation In India
Novartis counters speculation around pandemic-related staff cutbacks in India, saying that it actually upped the number of hires across its operations since January 2020. A senior executive separately provides a buoyant outlook for the Swiss firm’s global services operations in Hyderabad, which has added a significant number of new roles.
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More foreign pharma firms, this time Sanofi and GSK, are reorganizing sales and marketing efforts accompanied by layoffs in India. Scrip talks to experts about what’s driving the right-sizing and the wider trend.
Novartis India hands over sales and distribution of certain established brands, accounting for 50% of the 2020-2021 product revenues, to Dr Reddy’s as more foreign firms opt to leverage ground strengths of local players. Does it represent a wider trend where foreign firms are re-calibrating operations in India to focus energies on specialty and patented products?
Novartis and Takeda’s R&D efforts saw an impact from the COVID-19 pandemic, but both Lutz Hegemann and Andrew Plump believe that when the next pandemic hits, the industry and regulators will be better prepared for it.