Novartis announces further China investment
Swiss pharmaceutical company Novartis is to expand its research and development, manufacturing capacity and operations footprint in China, with planned investment of more than 3.3 billion yuan ($460 million), a gathering in Beijing has heard.
The announcement came as the China Development Forum annual meeting opened in Beijing on Sunday, with Vas Narasimhan, the chief executive officer of Novartis, attending for the eighth time.
"China is critical to Novartis' long-term development and innovation," Narasimhan said, adding that the Basel-based company will continue to bring innovative medicines to Chinese patients and aims to be a trusted healthcare partner in the country.
Novartis said China has become its second-largest market globally, and the company plans to launch a large-scale investment and expansion program this year to strengthen innovation and manufacturing capacity in the country.
Its Changping plant in Beijing, established in 1987, is a major production site in the company's global manufacturing network. The facility has started a new round of expansion and upgrade projects, with planned investment of about 1.5 billion yuan to build new facilities and introduce new sterile preparation, liquid filling and packaging technologies.
The company's Shanghai campus, which serves as Novartis' China headquarters, will mark its 10th year of operations this year. Novartis plans to jointly invest 1.8 billion yuan with partners to launch the second phase of the project.
Novartis pioneers radioligand therapy, which treats certain cancers, with its targeted PSMA radioligand therapy receiving approval in China for two indications in November last year.
Major construction is complete on the company's radioligand manufacturing facility in Haiyan county, Zhejiang province - the first of its kind in China. Once the site, which has seen an investment of 600 million yuan, reaches full production capacity, it will help reduce waiting time for Chinese patients seeking radioligand therapy.




























