Novartis Cuts New Jersey Jobs

Novartis is cutting jobs at its U.S. headquarters in East Hanover, New Jersey, as part of an ongoing global restructuring plan. In 2026 alone, the company has announced multiple rounds of layoffs totaling around 250 positions in New Jersey, including 76 cuts scheduled for August, 114 planned between June and November, and another 60 set for July and November. These reductions are focused on its biomedical research and commercial operations, as the company shifts focus toward newer drugs like its cholesterol treatment Leqvio and other cardiovascular products.

The layoffs contribute to more than 1,000 job cuts in New Jersey since the 2022 restructuring plan, which aims to eliminate about 8,000 positions globally (around 7% of its workforce) to improve efficiency and realign its portfolio. Novartis continues to invest in its U.S. operations, including plans to expand in Millburn, even as it reduces its East Hanover workforce.

Regarding the second part of your headline, there is no readily available public information confirming that "OTR" and LG Chem are specifically exploring cancer drugs in China. LG Chem, through its health care division, does have an active oncology R&D pipeline, including partnerships and trials in Asia, but recent credible reports tying LG Chem and an entity named "OTR" to a joint China-focused cancer drug initiative are not currently documented in major news or pharma industry sources.