Novartis is halting early-stage research in Shanghai and shifting the site’s focus to commercial development three years after the Swiss drugmaker christened the new $1 billion campus as its Chinese drug discovery hub. About 150 of some 1,300 Shanghai staffers will lose their research jobs, while Novartis plans to add 340 new positions over the next four years to develop up-and-coming drug prospects. The changes, first reported by website Fierce Biotech, were confirmed by Novartis. …read more
Source:: Yahoo Finance
