GSK's R&D staff hit with trade rumors spurred by Novartis' cancer pact

GlaxoSmithKline hasn't spelled out exactly how its big deal with Novartis--transferring its late-stage R&D work in cancer along with marketed products and options on the rest--will impact individual workers. But the jitters have clearly hit in Collegeville, PA, where the rumor mill has it that more than 100 investigators in cancer R&D are about to become Novartis workers.

An industry source tells the Philadelphia Business Journal that a bunch of GSK ($GSK) staffers in Collegeville were told they were being traded to Novartis ($NVS) as part of the deal. But GSK spokesperson Mary Anne Rhyne responded by saying no one knows yet how many staffers are being transferred--and won't for awhile.

"We expect it will take about a year for this to get regulatory approval," Rhyne told the Business Journal, adding that GSK created a "transition committee" to review employee issues as a result of the big swap and shop.

GSK has a large R&D staff at Collegeville, reports the Business Journal, with plans to relocate hundreds more in a reorganization of facilities.

A trade to Novartis would come as the pharma giant has been looking for ways to streamline R&D, focusing more efforts on Boston, Basel, Shanghai and La Jolla, CA. Keeping a job with Novartis might entail a big move out of Pennsylvania, or any other locations in GSK's global infrastructure.

- here's the story from the Philadelphia Business Journal