AIG To Invest $5.1m In Novartis Unit
- American International Group is to invest $5.1 million in Ciba CKDBiochem Ltd - an Indian joint venture between Ciba-Geigy and Chong Kun Dang of Korea. Ciba CKD is establishing a $35.2 million project to manufacture 125 tons of rifampicin annually in Mahad. 70% of the funds have already been committed and the plant is nearing completion. Following the merger of Ciba and Sandoz (now Novartis), the JV company will be renamed Novartis CKD Biochem.
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