Revenues at the main Ringaskiddy-based unit of pharma giant Novartis rose 3.5% to over €112.1m last year.

There are fears for the future of up to 100 jobs at pharma giant Novartis following confirmation that it has shed 70 jobs in recent weeks.

Irish pharmaceuticals’ dependence on imported raw materials means the impact on GDP of the expiry of key global patents will be far less than has been feared, according to chief economist with Davy Stockbrokers Conall MacCoille.

NOVARTIS is slashing 2,000 jobs in Switzerland and the US to keep costs under control in the face of growing price pressures and the strong Swiss franc, the Swiss drugmaker said yesterday.

NOVARTIS, Switzerland’s largest drugmaker, reported first-quarter profits above analysts’ forecasts as sales increased for its biggest product, hypertension drug Diovan.