Novartis cuts over 400 jobs ahead of Entresto patent loss
Swiss pharma major Novartis (NOVN: VX) is set to lay off 427 employees at its East Hanover, New Jersey, site as part of a restructuring effort ahead of expected generic competition for its top-selling heart failure drug, Entresto (sacubitril/valsartan).
The layoffs, disclosed in a New Jersey Worker Adjustment and Retraining Notification (WARN) notice, will begin in June and continue through late October.
Entresto, which generated $7.8 billion in sales in 2024, is expected to see a sharp revenue decline once generic versions launch in the USA, which is anticipated by mid-year. To counter this, Novartis is refocusing its cardiovascular strategy around newer therapies, particularly Leqvio (inclisiran) and pelacarsen, though it remains unclear if these drugs can immediately fill the revenue gap.
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