Seeking Alpha
Biotech, foreign companies, China
Profile| Send Message|
( followers)  

Novartis AG (NYSE: NVS), the Swiss multinational pharma, said revenues in China grew 36% last year, far better than the company’s overall 11% rise in sales. In 2009, Novartis China was helped by supplying 100 million doses of the company’s A[H1N1] pandemic vaccine to China. Novartis China markets pharmaceuticals, vaccines, and diagnostics.

China is currently one of Novartis’ top ten markets, though it is expected to become the company's second biggest market after the United States in five years, according to Dr. Emmanuel Puginier, chairman of Greater China at Novartis Pharmaceuticals Division.

By the end of 2009, Novartis had invested $590 million in China. In the next five years, it will add another $1 billion as it builds China’s largest pharmaceutical R&D center in Shanghai.

Disclosure: No positions

Source: Novartis China's Spectacular Climb in '09