Subscribe & Follow

Advertise your job vacancies

Novartis aims to invest US$500m in Russia

29 Dec 2010

GENEVA, SWITZERLAND: Swiss pharmaceutical group Novartis last week said that it intends to invest $500 million over five years in health ventures in Russia, including a new manufacturing plant in St Petersburg.

"Novartis is making a strategic investment in Russia for long term growth," said chief executive Joseph Jimenez.

"The ongoing partnership with Russia enables us to expand our commercial presence in a key emerging market," he added.

The Swiss pharmaceutical giant said its investment would also include research and development and collaboration with Russian universities and private companies, as well as possible licensing of its compounds.

Novartis said it had signed a memorandum of understanding with St Petersburg "confirming its intent to build a new full-scale pharmaceutical manufacturing plant," with construction due to start in 2011.

"This investment is part of an overall $500 million (€379 million) commitment in local infrastructure and collaborative healthcare initiatives planned over a five-year period," the company added.

Source: AFP

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za