Novartis's Sandoz, Austrian Government to Invest EUR150 Million in Antibiotics Production
27 Luglio 2020 - 10:14AM
Dow Jones News
By Pietro Lombardi
Novartis AG said Monday that its generics and biosimilars
division Sandoz and the Austrian government are investing 150
million euros ($174.8 million) to support antibiotics manufacturing
in Europe.
The deal, which should be closed by the end of the year, is
expected to support the competitiveness of the company's site in
the Austrian city of Kundl, Novartis said.
The agreement includes the development of innovative
technologies and measures to guarantee the large-scale production
of active ingredients for penicillin products.
"Our Kundl facility in Austria is the hub and center of the last
remaining integrated production chain for antibiotics in the
western world. This joint investment will help to keep it that
way," Sandoz Chief Executive Richard Saynor said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com;
@pietrolombard10
(END) Dow Jones Newswires
July 27, 2020 03:59 ET (07:59 GMT)
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