Novartis, a multinational pharmaceutical giant, has reported a robust sales revenue of nearly US$275.7 million in the China market for the year 2006. This figure comes as part of a broader global sales increase of 15%, propelling the company’s total global revenue to US$37 billion, with net income soaring by 17% to US$7.2 billion.
In a marked escalation of its commitment to the Chinese market in 2006, Novartis invested a substantial US$250 million, representing a 3.5-fold increase over its cumulative investment in China prior to that year. This substantial investment underscores Novartis’s strategic focus on the region.
Zhenfu Li, President of Novartis China, projects an anticipated growth of over 20% in the Chinese business, citing the sales of generic drugs, the swift expansion of the vaccine sector, the commencement of research and development operations in Shanghai’s Zhangjiang Hi-Tech Park, and the finalization of a state-of-the-art factory in Suzhou as key drivers of this projected expansion.
