Tuesday, June 5, 2007

Novartis splashes the cash in Asia

This was a recent article on the DrugResearcher.com website, by Kirsty Barnes, on Nov. 7, 2006. In the article, she explains the new invest deal that Novartis is planning to start up as soon as possible in Shanghai.

Novartis is splashing its cash in Asia, intending to invest $100m (€79m) in China and INR5bn (€90m) in India to establish large new R&D centres.

The Swiss drug heavy plans to build two facilities in Shanghai's Zhangjiang Hi-Tech Park - an initial 5,000 m. sq. start-up facility to be ready for May 2007 and a permanent 38,000 m. sq. facility for 400 scientists that will open in July 2007.

The site will become the eighth within Novartis' R&D network and will be staffed primarily by scientists recruited from local academic, biotech and pharmaceutical research institutions, the firm said.

Novartis is already active in China through a number of collaborations, including a six-year research partnership with the Shanghai Institute of Materia Medica (SIMM) to identify and test traditional medicines for pharmacological properties as well as partnerships with drug manufacturer WuXi PharmaTech, the Chinese University of Hong Kong National Institutes of Biological Sciences (NIBS) and Kunming Institute of Botany.

In addition, the firm began construction in February on an $83m development and production plant in Changshu, Jiangsu Province, which is expected to open in mid-2007.

However this is the company's largest commitment in China to date and brings the firm more in line with a number of other international pharma firms who are planting their roots firmly in the country.

To view the entire article at its original location click on the title of this post.

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