Novartis to invest $1 billion in Chinese R&D center.
AFP (11/4) reports, "Swiss pharmaceutical group Novartis said Tuesday that it would invest" $1 billion "in research and development in China to latch on to growing demand for health care." Novartis said the "five-year investment will include an expansion of the company's Institute for BioMedical Research in Shanghai (CNIBR)," which specializes in "basic research and developing new drugs." An additional $250 million "will go to a new global technical centre which is opening in Changshu."
The Wall Street Journal (11/4, Johnson, Whalen) adds that investment also will allow the research and development center in Shanghai to boost its number of employees from 160 to 1,000. Novartis CEO Daniel Vasella said China could become one of the company's three biggest markets by 2014.
BusinessWeek (11/4, Roberts) notes, "China's health-care system is in growth mode, Vasella says, and that will provide huge opportunities for pharmaceutical companies like Novartis." Reuters (11/4) also covers the story.
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Here is a link where Novartis recently CUT jobs so the money / jobs could probably be spent in China. What do you think? Novartis is located in NJ.
http://www.usatoday.com/money/industries/health/drugs/2007-12-13-novartis-job-cuts_N.htm
"Don't let fear of tomorrow rob you of the joy of today."
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TenderIsOur… Joined: May 2007 Posts: 4,341 |
Nov 4, 2009 05:39 pm
TenderIsOurMight wrote:
We can't take the business out of medicine any more. Novartis like many is thinking bottom line and profits. That is Big Pharma all the way. I always hope that the medical knowledge derived from new ventures such as this will somehow filter back to help other countries' breast cancer patients. What's amazing though, is the lock Big Pharma companies continue to have on name brand drugs, including those used in breast cancer. Patent laws strongly protect these companies, and with the cost of IV medicines so high, as well as hormonals, undoubtedly a life is lost from no ability to pay. Generic control (i.e., patent extension) was part of the deal in the WH- Pharmaceuticals agreement as I understand it. Sad. Tender It cannot be emphasized too strongly that treatment of each patient is a highly individualized matter. (FDA-approved labeling for warfarin (Coumadin) NDA 9-218/5-105)
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lindasa Joined: Aug 2008 Posts: 1,551 |
Nov 5, 2009 01:45 pm
lindasa wrote:
Well, I guess it had to happen.... while North American docs are starting to investigate Chinese medicines -- those that have been used effectively for centuries -- the poor Chinese are about to be seduced by American/European "wonder drugs". Forget drinking that smelly old tea -- take this magic pill instead. I agree...sad indeed. Linda "Hope has 2 beautiful daughters -- anger and courage. Anger at the way things are, and courage to see that they do not remain the way they are." Augustine
Diagnosis: 1/10/2008, ILC, 1cm, Stage I, Grade 3, 0/4 nodes, ER+/PR-, HER2- |
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TenderIsOur… Joined: May 2007 Posts: 4,341 |
Nov 5, 2009 03:54 pm
TenderIsOurMight wrote:
Linda, Really. I'm having my tea right now. Green with a little winter herbs thrown in. Like black tea too. Here's a holler to Greece and Italy to keep up with extra virgin olive oil exportation to the US and all. A tablespoon of that each day may help minimize ER+/HER- alteration to ER-/HER+. (Sorry, can't think where the citation is right now). Tender It cannot be emphasized too strongly that treatment of each patient is a highly individualized matter. (FDA-approved labeling for warfarin (Coumadin) NDA 9-218/5-105)
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