Novartis has warned its profit may decline this year as it ramps up marketing spend on new heart failure drug Entresto following a disappointing start for the medicine.

Novartis employees in Shanghai have a new $1 billion home.

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.

FOOD giant Heinz is to sell its frozen and chilled food business, which employs 2,300 workers in Ireland and Britain.