Novartis To Cut 1,400 Jobs

NEW YORK (AP) -- Swiss drugmaker Novartis AG says it will eliminate 1,400 U.S. jobs by Jan. 1.

The company will cut the jobs from its general medicines business, saying sales at that business will be hurt as the patents on some of its products expire. Novartis plans to focus more resources on its primary care and specialty care businesses.

The company expects to take $85 million in one-time charges associated with the job cuts.

At the end of 2009, Novartis had 99,834 full-time employees, including 20,525 in the U.S.

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