Novartis: investment project between Sandoz and Austria
(CercleFinance.com) - Sandoz, Novartis' generics and biosimilars division, has announced a joint investment project with the Austrian Federal Government to strengthen the long-term future of integrated antibiotics manufacturing in Europe.
The company intends to invest over 150 million euros over the next five years to strengthen the long-term competitiveness of its activities in Kundl by developing and introducing innovative manufacturing technologies.
Meanwhile, the Austrian government would contribute or coordinate public funds totalling around 50 million euros towards the total investment, as part of its efforts to increase the production of essential medicines in Europe.
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