In its largest investment plan so far in the history, Novartis (NVS)will make manufacturing investment to the tune of $700 million in Singapore. It has also announced a $500 million IT outsourcing deal with British Telecom. Not only low cost, Singapore is also perceived to be a high quality bio pharmaceutical hub.
Novartis management has made the announcement while inaugurating new tabletting plant at Tuas Biomedical Park, Singapore.
Construction of the cell culture plant to support the company's growing pipeine of biopharmaceutical products will start early next year and be finished by the end of 2012, Novartis said.It will employ 300 people,
Singapore Trade and Industry Minister Lim Hng Kiang said the Novartis cell culture plant will be the city-state's fifth commercial-scale plant for biological-based products such as vaccines and cells for gene therapy. Source
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