Bayer to cut 4,500 jobs in global overhaul; Novartis readies Chinese R&D center;

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> It's another big shift to emerging markets for Big Pharma. Bayer plans to spend €1 billion on a restructuring plan that will cut 4,500 jobs--but create 2,500 new ones, largely in up-and-coming countries. The company expects to reap €800 million in annual cost savings from the plan beginning in 2013. Article

> Novartis oncology president Herve Hoppenot visited the company's $1 billion R&D center in Shanghai, the third largest center of its kind in the world. According to Hoppenot, the center will focus on prevalent diseases, including lung, liver, breast and colon cancers, which have been growing in China. "We are ready to share the Novartis' platform of medicine R&D and decades-long experience in medicine development," he said. Article

> Genentech will cut 550 manufacturing jobs from its Bay Area facilities, with 450 taken from South San Francisco and another 100 from its Vacaville plant. The layoffs have been expected since Roche purchased the company. Story

> Norway's Clavis Pharma has raised €19 million in a private placement of 4.4 million stock shares. The funding will go towards studies on its pancreatic cancer and late-stage AML treatments, as well as other corporate needs. Clavis release

> Ventrus Biosciences has found an independent underwriter for its $18.2 million IPO. Item

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