The investment marks the company’s commercial position in emerging markers such as Brazil, India and China.
The investment comes at a time when Russia’s economy is on the road to recovery with growth forecast at 4.3% in 2011.
As part of the investment programme, Novartis will be constructing a large-scale pharmaceutical manufacturing plant in St Petersburg in 2011. The facility will have the capacity to produce around 1.5 billion units of generic and branded medicines each year.
In addition, Novartis will pursue R&D collaborations and public health initiatives in Russia. The pharmaceutical company also plans to double its spending on clinical trials in Russia and expects to enrol approximately 4,000 individuals into studies by 2013.
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