China: Novartis invests $1 billion in research and development

The Swiss pharmaceutical group Novartis is to invest one billion dollars (679.9 million euros) over the next five years in research and development in China, where demand for medical care continues to grow.

The development program includes "significant expansion" of the Institute of Biomedical Research (CNIBR) in Shanghai to become the third largest center of Novartis in the world.

The center specialized in research of new drugs, should be relocated to a new site and move forward from 160 employees to 1,000.

"We are confident that increasing our investment in research and development will lead to therapies for patients in China and other countries," said Novartis CEO Daniel Vasella.

China, whose population is faced with new chronic disease due to changes in their surroundings, plans to invest some 124 billion dollars over three years to consolidate the country's medical services, said Novartis.

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