NVS Stock Recent News

Novartis (NVS) is set to cut jobs by 680 in its development organization to reshape workforce.

Novartis said on Thursday that its tender offer for MorphoSys has begun, with an offer price of 68 euros ($73.08) per share in cash, corresponding to a premium of 142% on the volume-weighted average price during the last three months.

Novartis (NYSE: NVS ) layoffs are in the news Wednesday after the healthcare company announced plans to cut jobs in the U.S. and Switzerland. Starting with its U.S. jobs, the company intends to reduce its headcount by 240 workers.

Novartis is to cut up to 680 jobs in its development organisation, which helps bring its drugs to market, the Swiss pharmaceuticals company said on Tuesday.

In the latest trading session, Novartis (NVS) closed at $95.79, marking a -1.14% move from the previous day.

Shares of Novartis (NVS) climbed Thursday as the pharmaceutical firm announced it would seek approval for expanded use of its cancer treatment, Pluvicto.

Novartis is now a pure player in innovative medicines. Despite a negative FX, the company reported solid 2023 financial results and increased its dividend per share. There is a strategic rationale for acquiring MorphoSys AG. NVS had raised its outlook for three quarters in a row. We have now moved our rating to buy.

In the most recent trading session, Novartis (NVS) closed at $94.41, indicating a -1.52% shift from the previous trading day.

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Novartis (NVS) closed at $95.88 in the latest trading session, marking a +0.64% move from the prior day.