Novartis doubles down on China with $480 million investment

Swiss pharma major Novartis (NOVN: VX) is committing more than 3.3 billion yuan ($480 million) to expand its footprint in China, deepening a strategic shift toward local innovation and manufacturing as the country cements its role as a key growth engine.

The investment will fund upgrades at its Beijing manufacturing site and expansion of its Shanghai R&D hub, while also supporting earlier-stage clinical trials. Chief executive Vas Narasimhan said China is “critical to Novartis’ long-term development and innovation.”