Novartis to open Brazilian facility

Novartis has announced that it will open a new vaccine facility in Brazil.
According to Valor, a financial daily, the Novartis facility will be the first vaccine factory in Latin America. The initial investment ranges from between $300 to $500 million. The facility will be located in the northeastern city of Reife, Brazil. The coastal location of Reife is said to have been a selling point for executives.
Novartis currently has three other operations in Brazil - processing plants in Sau Paulo and Rio and a generic drug facility in Parana, AFP reports. Brazil provided $1 billion in revenue for Novartis in 2009.

The facility is expected to be completed by 2014 and will produce vaccines for foreign and domestic markets.
Novartis, based in Basel, Switzerland, is, based on revenue, the third largest pharmaceutical company in the world. In 2009, its revenue was more than $44 billion dollars. Novartis was formed by the merger of Ciba-Geigy and Sandoz Laboratories in 1996 and has extensive operations in developing countries.
Brazil is the world’s eighth largest economy by nominal GDP, according to the World Bank. Its briskly moving economy has benefited by attracting corporate investment due to its strong intellectual property laws and tax incentives for businesses. The IMF estimates that Brazil will become the fourth largest economy in the world by 2010.