Novartis consolidating R&D sites

Novartis AG (NYSE:NVS; SIX:NOVN) disclosed details of an R&D restructuring that could affect over 550 positions at research facilities in the U.S., U.K. and Austria. The pharma said the changes are a result of a global review of its research operations and "realignment" of its R&D sites. The pharma said it plans to close its Vienna research site and its respiratory research site in Horsham, U.K. Both closures are subject to a consultation process. ...