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Novartis Jilts India on Investment

publication date: Aug 23, 2007
Will the Swiss Biotech Move the Funds to China? Novartis (NVS) planned to invest $120 million in India, creating 5,000 jobs. It agreed to buy land in Hyderabad for an R&D center, plus it would also locate an IT center there. When the deal was announced in November 2006, it was trumpeted as the most expensive R&D investment ever made in India. But no more. Earlier in August, Novartis lost an appeal in its patent suit in Madras, India over the leukemia drug Gleevec (known as Glivec outside the US). More details...


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