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Novartis Sells Suzhou API Plant to Zhejiang Jiuzhou for $110.5 Million

publication date: Sep 6, 2019

Novartis has sold its Suzhou API manufacturing campus to Zhejiang Jiuzhou Pharma for $110.5 million. In 2009, Novartis completed construction of the plant after investing $250 million. At the time, the company was moving its API production to China to lower costs. Jiuzhou will continue the plant's operations of supplying APIs to Novartis. The buildings on the campus include a Technical Center that originally developed small amounts of APIs for Novartis' clinical trials. More details.....

Stock Symbols: (NYSE: NVS) (SHA: 603456)

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