21 October 1999
Novartis seeks agribusiness cuts

SWISS pharmaceutical giant Novartis is to make reductions of SFr100 million in its agribusiness division, despite total company sales holding steady .

The London Evening Standard reports Novartis sales of SFr24.2bn (£9.8bn) in the first nine months of the year.

But with its agribusiness hit by falling demand and fierce competition, Novartis is now looking for reductions.

Improved sales of consumer health preparations helped maintain healthier sales figures for the life science company.

There were reports last month that Novartis was considering selling off or merging its agribusiness division.