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Novartis AG (NVS) Plans $550 Million Manufacturing Plant in Switzerland



4/23/2012 7:57:31 AM

Swiss pharmaceutical company Novartis AG /quotes/zigman/171707/quotes/nls/nvs NVS -1.38% said Monday it is planning to invest over 500 million Swiss francs ($550 million) building a new manufacturing facility in Switzerland.

MAIN FACTS:

-The company said the investment underlines the long-term strategy of Novartis to establish a worldwide manufacturing network of technology centers.

-The new production site in Stein, Switzerland, is expected to be fully operational by end of 2016.


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