The Basel-based company opened a new, $1 billion research and development campus in Shanghai today. With two other R&D centers in Cambridge, Mass., and Basel, Switzerland, it marks the company’s third main hub for drug research.
Novartis’s bet reflects the new role the Chinese could play in discovering life-changing drugs. Ten years ago, companies like Novartis were attracted to China because scientist salaries were just a tenth of those in the U.S. Now, with China’s ascendant middle class spending more on healthcare and the country producing more scientists than anywhere, global drug giants are forced to invest heavily in China despite the challenges.
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