Novartis To Invest $1 Billion in China R&D Institute

Novartis (Basel, Switzerland) plans to invest $1 billion over the next five years to increase research and development (R&D) activities in China, including a significant expansion of The Novartis Institute of BioMedical Research (CNIBR) in Shanghai."We are confident that our expanded investment in R&D will result in innovative therapies for patients in China and other countries nurtured by the growing scientific excellence in China," said Novartis Chairman and CEO Daniel Vasella, in a company release.

"We are also pleased to contribute to the Shanghai government's aim to establish the city as the premiere R&D center for China's bio-medicine industry by 2012, as Novartis is committed to investing to further the Chinese government's strategy for stimulating economic growth, stability and enhancing the livelihood of the Chinese people."

Specifically, the Chinese government is aiming to provide all citizens with access to affordable, basic healthcare by 2020, involving a $124-billion investment over the next three years. Other government plans include improving the country’s informatio- technology systems and strengthening the nation’s pharmaceutical production quality and safety, according to the release. The Novartis Institute for BioMedical Research in Shanghai, located in Zhangjiang High-tech Park, specializes in R&D of small-molecule and biologics for diseases prevalent in China.