Looks like a reaction to this:
An FDA advisory panel voted 13-4 to approve indacaterol, a lung drug developed by Novartis (NVS), in a 75-microgram dose, but voted 12-5 against approving the 150-microgram dose used in Europe. The mixed approval clouds prospects for QVA149, another Novartis lung drug in development which could potentially see sales of $5B annually if approved but which relies on doses of indacaterol higher than 75 micrograms.
NVS is still recommended by a large number of analysts because of their size, pipeline, dividend and (most importantly) CASH balance. Shareholders don't give a rats a$$ about employee sentiment - in fact it probably shows they are pinching pennies to help SV when the workers aren't happy.
This company is not 'going down' like so many of you would like to see.