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22.07.2010

Novartis Unit Considers Russian Factory

Sandoz, the world's second largest generic medicine company, is still mulling its options for owning a plant in Russia, company chief Jeff George said in an interview.

“Russia, being one of our top markets, is a very important, strategic market for investment in the future,” he said in an interview at the end of last month. “We are currently evaluating what is the right way to invest.”

Sandoz and Novartis, its parent company, are still seeking guidance from government officials as they look to develop more concrete plans, he said.

Switzerland-based Novartis, which is Russia’s biggest pharmaceutical company in terms of sales, wanted to make a decision within two or three years, the company’s chief Daniel Vasella said in January. It first announced the idea to buy or build a drug-making plant in Russia in 2008.


Source:  The Moscow Times

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