Generic Drug Facility Closing; Hundreds To Be Let Go
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BROOMFIELD, Colo. (CBS4) - A global health care company is closing its facility in Broomfield which means 450 people will lose their jobs.
Sweden-based Novartis makes generic drugs at the Sandoz plant near U.S. 36 and the Interlocken Loop.
The company says increased competition is causing the closure. It will happen in phases with the facility expected to fully close by the end of 2019.
Broomfield's Director of Economic Development, Bo Martinez, says city officials are "very disappointed" about the consolidation of the company's operations to Wilson, North Carolina.
The company will be offering severance packages and helping employees find new jobs.
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