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.
- Novartis to drop agribiz?, FWi, 21 September 1999
- Agribusiness decline hits Novartis , FWi, 23 June 1999
- Novartis to cut costs by 10%, FWi, 23 June 1999
- Agribusiness decline hits Novartis, FWi, 22 April 1999