Swiss drugmaker Novartis AG plans to reduce or drop production of some generic drugs and will close its 450-employee Sandoz plant in Broomfield over the next two years as a result.
The Sandoz facility has been in Broomfield for 42 years.
Novartis (NYSE: NVS) plans to consolidate production of drug ingredients at a sister plant in Wilson, North Carolina, and shut down the Broomfield manufacturing plant by the end of 2019, the company said.
“With several products no longer competitive in saturated markets, we have made the decision to discontinue or divest these limited-growth products to optimize our product portfolio,” the company said in a statement. “While this was a strategic choice made to optimize our manufacturing infrastructure, it was a very difficult decision as the closure affects approximately 450 employees at the Broomfield site.”
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