February 29, 2008 - According to China Central TV, Novartis (NYSE: NVS) produced 2.5 billion RMB ($342 million) of revenue in China during 2007, an increase of 20%. The company has been the fourth biggest supplier of medications to hospitals in the country. Although its China sales are still modest relative to its overall revenues, Novartis aims to make China one of its top 10 markets by 2010. So far, Novartis has invested over $400 million in building facilities in China. In March 2007, Novartis received approval from the SFDA for Sebivo®, (telbivudine), a treatment for chronic hepatitis B. More details...
