The first raw material production and development base built by Novartis in China was officially laid the foundation stone in Suzhou. The project has an initial investment of 83 million U.S. dollars and is expected to be put into operation by the end of 2007. After completion, Suzhou Novartis will become an important part of Novartis' global production layout and supply chain.
Novartis is one of the world's top 500 companies and ranked second in the pharmaceutical industry in 2005 in Businessweek’s Global Top 100 Brand Rankings. Prior to this, Novartis had five companies in China with a total investment of more than US$100 million. In 2005, China’s total sales reached 1.97 billion yuan.
Li Zhenfu, president of Novartis China, said that Suzhou Novartis Project is the world’s leading multinational pharmaceutical company to establish the raw material medicine production and development base for global markets in China. The project includes a new chemical development center and two production plants, and the drug development center will mainly produce APIs for innovative drugs.
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