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Novartis invests $500m in Russia

Novartis is to build a new manufacturing plant in St Petersburg as part of a $500m multi-year investment in Russia

Novartis is to build a new manufacturing plant in St Petersburg as part of a $500m multi-year investment in Russia.

The site is expected to manufacture both generic medicines and branded pharmaceuticals, with around 1.5bn units to be produced each year. Construction is scheduled to start in 2011.

The Memorandum of Understanding (MoU), which confirms the commitment to build the plant, also describes the Swiss company's intention to build local infrastructure and collaborative healthcare initiatives in Russia over a five-year period.

Novartis has said these initiatives will cover three core areas of local manufacturing, R&D and public health development, with the company stating its desire to become Russia's leading partner in supporting the nation's healthcare reforms.

As a fast growing emerging market, Russia is increasing healthcare investment, with increased focus on healthcare collaborations to cover unmet medical needs.

Novartis' activities in the country will include working with Russian medical science companies and universities, identifying projects with high potential to be jointly developed.

The company has also promised investment in clinical trials, with plans to enrol around 4,000 participants by the end of 2013.

"Novartis is making a strategic investment in Russia for long term growth," said Joe Jimenez, CEO, Novartis. "This collaboration shows our commitment to contributing to the ambitious healthcare goals of the Russian government. The ongoing partnership with Russia enables us to expand our commercial presence in a key emerging market. The scientific development and public health efforts have been prioritised to focus on the most beneficial programmes for the Russian people."

20th December 2010

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