Novartis To Seek OTC Acquisition Opportunities In China
This article was originally published in PharmAsia News
Novartis China President Jeffrey Li recently revealed that the company will concentrate on R&D and sales in China next year, starting with increased investment in the Novartis Shanghai R&D center. It will expand its sales force by enlarging the proportion of new staff to 20 percent. The firm's OTC business is growing slower than the global average, with Voltaren (diclofenac) its main drug. To expand the sector's market share, Novartis is registering other OTC drugs and actively seeking acquisition opportunities. The company expects to raise its annual business growth rate in China to 30-40 percent and maintain the momentum in the next five to 10 years. (Click here for more - Chinese Language)
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