ZURICH (Reuters) -Novartis said on Tuesday that it plans to cut up to 550 full-time jobs by the end of 2027 at one of the Swiss pharmaceutical firm’s sites in Switzerland, stressing the step was not linked to its expansion in the United States.

Novartis said the cuts were part of plans to end production of tablets and capsules and packaging of sterile medicines at its plant in Stein in northern Switzerland.

The company said it also plans to invest $80 million in its production at its Schweizerhalle site on the edge of Basel and create around 80 new positions there by the end of 2028.

Novartis and its rival Roche are two of the top Swiss investors in the United States.

Both said they would invest billions of dollars there in the coming years as Swiss firms pledge to expand in the United

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