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Latin Times
Latin Times
Business

Novartis Plans $23 Billion US Buildout as Pharma Faces Pressure From Trump

Swiss drugs giant Novartis headquarters are seen 17 January 2008 in Basel. Novartis on Thursday announced a 66 percent rise in net profits in 2007 to 11.97 billion USD (8.16 billion euros), but said it expected a tough first quarter 2008 due to stiff competition from generics.

Swiss drugmaker Novartis announced plans to invest $23 billion in the United States over the next five years, responding to growing political pressure and potential import tariffs threatened by former President Donald Trump.

The move includes building six new manufacturing plants and expanding four existing ones, with the goal of strengthening its US footprint and increasing local production.

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