Novartis on the Rhine, at Basel © Novartis AG
Basel, Switzerland (GenevaLunch) - Swiss drugs maker, Novartis, has acquired 85 percent of Chinese vaccine maker Zhejiang Tianyuan Bio-Pharmaceutical Co. for $125 million, subject to government approval, the company announced 4 November. Tianyuan is a privately held company with sales of $25 million in the $1 billion Chinese market for vaccines, the world’s third-largest.
Novartis says it wants to use its purchase to build a market-leader: it will concentrate on expanding Tianyuan’s portfolio and R&D pipeline, improving its manufacturing technologies and its commercial outlets. Novartis also hopes to be able to introduce its products into the Chinese market where it has a limited presence, with some flu and rabies vaccines.
