Novartis to Eliminate 2,000 Jobs

Swiss pharmaceutical giant Novartis AG (NYSE:NVS) announced plans to eliminate 2,000 jobs and close plants in the US and Switzerland. Novartis couched its plans in terms of offsetting the reduced prices of certain drugs.  Novartis further plans to recreate several hundred of these jobs in lower-cost countries.

Following is some information about the stock price performance of this company, along with that of some of its competitors.

  • Novartis AG (NYSE:NVS): The shares closed at $58.86, up $0.09, or 0.15%, on Monday.  The shares have traded in a 52-week range of $52.09 to $64.82 and its market capitalization is $142.82 billion.  About the company: Novartis AG manufactures pharmaceutical and consumer healthcare products.  THe Company produces pharmaceuticals for cardiovascular, respiratory and infectious diseases; oncology, neuroscience, transplantation, dermatology, gastrointestinal and urinary conditions, and arthritis; vaccines and diagnostics; vision, and animal health products.
  • Merck & Co., Inc. (NYSE:MRK): The shares closed at $33.53, up $0.18, or 0.54%, on the Monday.  The shares have traded in a 52-week range of $29.47 to $37.68 and its market capitalization is $103.3 billion.  About the company: Merck & Co., Inc. is a global pharmaceutical company that discovers, develops, manufactures, and markets a broad range of human and animal health products.  Merck’s products include a treatment for elevated cholesterol, a treatment for male pattern hair loss, a preventive treatment for osteoporosis, a treatment for hypertension, and a treatment for allergic rhinitis.
  • GlaxoSmithKline plc (NYSE:GSK): The shares closed at $4.72, down $0.28, or 0.62%, on the day.  The shares have traded in a 52-week range of $36.28 to $45.34 and its market capitalization is $113.22 billion. About the company: GlaxoSmithKline plc is a research-based pharmaceutical group that develops, manufactures and markets vaccines, prescription and over-the-counter medicines, as well as health-related consumer products.  The Group, which also provides laboratory testing and disease management services, specializes in treatments for respiratory, central nervous system, gastro-intestinal and genetic disorders.
  • Pfizer, Inc. (NYSE:PFE): The shares closed at $19.36, up $0.30, or 1.57%, on the day.  The shares have traded in a 52-week range of $16.25 to $21.45 and its market capitalization is $151.05 billion. About the company: Pfizer, Inc. is a research-based, global pharmaceutical company that discovers, develops, manufactures, and markets medicines for humans and animals.  The Company’s products include prescription pharmaceuticals, non-prescription self-medications, and animal health products such as anti-infective medicines and vaccines.
  • Teva Pharmaceutical, Inc. (NASDAQ:TEVA): The shares closed at $39.53, up $0.37, or 0.94%, on the day.  The shares have traded in a 52-week range of $35 to $57.08 and its market capitalization is $35.18 billion. About the company: Teva Pharmaceutical Industries, Ltd. develops, manufactures and markets generic and branded human pharmaceuticals and active ingredients.  The Company produces antibiotics, oncological products, Alpha D3 for treatment of post-menopausal bone loss in women and Copaxone for treatment of multiple sclerosis.  Teva develops novel drugs for diseases of the central nervous system.

(Note: Selected financial data are sourced from Google Finance.  All data are assumed to be accurate.)

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