Media Releases
GENEVA – Swiss pharmaceutical company Novartis AG said it plans to invest $500 million in Russia over a five-year period. Novartis said the investment will include the construction of a drug production plant in the western city of St. Petersburg as well as research and development partnerships with local companies. The Basel-based company says construction of the plants starts 1.5 billion generic and proprietary drugs each year when completed. Novartis said the investment is one of the biggest it has ever made in local manufacturing. -- AP