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Novartis to pump $1.25 billion into China

Starved of growth elsewhere in the world, Swiss pharmaceutical giant Novartis is investing $1,25 billion in two research and development centres in the Shanghai area.  Novartis plans to add Shanghai to its flagship R&D facilities in Basel, Switzerland, and Cambridge, Massachusetts. Novartis’ move is logical, especially after its Chinese sales showed steady 30% annual growth. The company already has 4,500 researchers in China and is very attracted by the $124 billion China will spend on healthcare over the next three years, which still represents only 4.7% of GDP, compared to the USA’s 16%. Clearly, the scope for growth is massive and Novartis will be there to take part in it. Read more: BusinessWeek

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