Novartis announced it is closing its Sandoz generic-drug manufacturing division in Broomfield, Colorado, according to The Denver Post. The decision will cause 450 local jobs to be eliminated over a two-year period.
The company said “double-digit price erosion caused by customer consolidation and increased competition taking place within the U.S. generic drug market” caused Novartis to face above-average pricing pressure in the United States, the story said.
Novartis spokesperson Sofina Mirza-Reid said the phased closure and transfer of operations to Wilson, N.C., will be complete in the fourth quarter of 2019.
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