Novartis has successfully finished its acquisition of 85% of Chinese vaccines firm Zhejiang Tianyuan Bio-Pharmaceutical. The deal of $125 million announced in the year 2009. Novartis Swiss based drugs giant says the acquisition will provide it with an expanded presence in the Chinese vaccines market and facilitate the introduction of additional Novartis vaccines into the country. The firms claim China represents the world’s third largest vaccines market, with annual industry sales of over $1 billion, and the expectation of double-digit growth over coming years. “This agreement combines the strength of our vaccines R&D strategy and pipeline with Tianyuan’s deep knowledge of the vaccines market in China,” remarks Andrin Oswald, head of Novartis vaccines and diagnostics.
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Novartis and Tianyuan will work jointly to expand the Chinese firm’s product portfolio and R&D pipeline through targeted investments in technology, manufacturing and commercial networks. “We have already identified several joint development programs that could be implemented in China over the next ten years, with the potential of launching key products responding to unmet medical needs in the mid-term”, claims Mr. Ding Xiaohang, founder, chairman and CEO of Tianyuan
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