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.


-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.