Novartis Dissolves Its Cell Therapy Unit, Cutting 120 Positions
Novartis AG said it will fold its specialized cell and gene therapies unit into other parts of the company, leading to about 120 job cuts months before seeking approval for a new type of cancer treatment. Cell and gene therapy development will no longer be housed in a separate division, the Basel, Switzerland-based company said Wednesday in an e-mailed statement. The change won’t affect a plan to apply for U.S. approval early next year for a type of cell therapy, called a CAR-T, for children with an aggressive form of blood cancer, Novartis said. The therapy, known as CTL019, will be submitted for European approval later next year.