Novartis is expected to lay off a significant number of employees from a NJ location, which will result in hundreds of employees in the state losing their jobs.

According to reporting from NJ.com,¹ Novartis filed notices to inform the state of plans to lay off 322 employees from its East Hanover location starting on October 2 of this year. This follows the company’s previous filings in May of this year informing the state of 76 job cuts at the same location.

Which positions will be impacted by the upcoming layoffs at Novartis?

The filings do not disclose which positions or business units will be included in the downsizing.

It’s unclear why the company is planning these layoffs. Recent news from Novartis shows the company expanding its assets and receiving good news from regulatory bodies.

Just prior to the reporting of these layoffs, Novartis announced Myricx Bio. As Pharmaceutical Executive previously reported, the deal is worth at least $1.1 billion in upfront payments and contains provisions for an additional $400 million in milestone payments. The acquisition will bring Myricx’s NMTi payload platform into Novartis’ pipeline.

In a press release, Myricx Bio CEO Mohit Rawat said, “There is a widely recognized and critical unmet need for new ADC payloads that can improve the standard of care over current payloads, overcome payload resistance, improve tolerability and offer a wider therapeutic index. We are delighted that Novartis recognizes the transformative promise of our NMTi-ADC platform to deliver this next-generation of potential first-in-class, highly differentiated ADC therapeutics.”

Rawat continued, “This acquisition is a tremendous endorsement of the leadership of our NMTi-ADC platform, and the insights, innovation and achievements of our founders and team towards our mission of providing more effective and better tolerated therapeutic options for cancer patients. Together with Novartis, we look forward to building upon our work to transform the landscape of cancer treatment.”

In the same press release, Novartis’ president of biomedical research Fiona Marshall added, “ADCs have become an important part of cancer treatment, but there remains a clear need for new payload mechanisms to overcome resistance and expand their impact for patients. Myricx Bio has developed a promising NMTi payload platform with a differentiated mechanism that could broaden the use of ADCs across multiple tumor settings. This proposed acquisition reflects our strategy to scale innovative platforms, as we have with radioligand therapies, to deliver more durable, transformative treatments for patients.”

What business and regulatory wins has Novartis recently announced?

Novartis also recently announced the European Commission’s approval for its spinal muscular atrophy treatment Itvisma.² The approval is for children two-years-and-older, teens and adults and is based on positive data from the STEER and Phase IIIb STRENGTH studies.

In a press release, SMA Europe CEO Nicole Gusset said, “European approval is an important milestone for the SMA community. Beyond the scientific achievement, it brings the prospect of a new treatment option closer to people and families who are looking for choices that reflect their individual needs and circumstances. We welcome today’s decision and hope it translates into timely and equitable access across Europe.”

In the same press release, Professor Jana Haberlová, Head of Neuromuscular Centre at the Department of Paediatric Neurology, Motol and Homolka University Hospital, Prague, Czech Republic added, “Maintaining or improving motor function can make a meaningful difference for older children, teens and adults living with SMA. The approval of Itvisma in Europe is an important advance because it brings a new gene replacement therapy option to a broader patient population and gives clinicians an additional way to support patients across the course of the disease.”

Sources

1. Major N.J. pharma layoffs among 506 job cuts announced by 3 employers. NJ.com. July 7, 2026. https://www.nj.com/business/2026/07/major-nj-pharma-layoffs-among-506-job-cuts-announced-by-3-employers.html
2. Novartis receives European Commission approval for Itvisma® for spinal muscular atrophy (SMA). Novartis. July 2, 2026. Accessed July 7, 2026. https://www.novartis.com/news/media-releases/novartis-receives-european-commission-approval-itvisma-spinal-muscular-atrophy-sma