A few days ago, AZ reported that it would be investing $1.5 billion over the next 5 years to expand in Russia with a manufacturing facility and a new drug testing center. Novartis now announces that it will also be building a new manufacturing plant in St. Petersburg to make both innovative drugs and generics for the local market. The site is slated to come on line in 2014 and will employ 350. Novartis is planning to spend $0.5 billion over the next five years to further penetrate this growing market.
"The establishment of the Novartis manufacturing facility demonstrated our commitment to invest in the Russian healthcare infrastructure and to contribute to the long-term goals of improving healthcare in Russia, set by the government", said Joseph Jimenez CEO, Novartis AG.
Posted by Bruce Lehr June 21st 2011.