Sandoz To Set Up China Headquarters And R&D Center In Chongqing

Sandoz Pharmaceutical, a subsidiary of Novartis, will set up its China headquarters and R&D center in Chongqing. The constant improvement of the city's investment environment helped convince the firm of its decision. At the same time, Sandoz is seeking to acquire Chongqing Lummy Pharmaceutical for its R&D and innovation capability. After establishing itself, Sandoz China will grow by acquisition and expanding its production capacity in the next five years. It aims to be among the local top-three spots in the sector, with revenue hitting RMB 10 billion ($1.47 billion). (Click here for more - Chinese Language)