Novartis AG to Invest $500M In Russia and Build Plant

ZURICH, Dec 20 (Reuters) - Novartis AG (NOVN.VX) will invest $500 million in Russia over the next five years, strengthening its position in the country as it joins rivals looking to get around tough rules on imported medicines. The Swiss drugmaker plans to build a new pharmaceutical manufacturing plant in St. Petersburg as part of a partnership, which will focus on local manufacturing, R&D partnerships and public health development, Novartis said.

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