Swiss MNC Novartis acquires manufacturing facility to produce medicines in Pakistan

MG News | October 20, 2020 at 09:35 AM GMT+05:00

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October 20, 2020 (MLN): Novartis, a Swiss MNC with a multi-decade presence in Pakistan, has acquired a manufacturing facility to produce medicines locally. Novartis has an expansion plan that will bring an investment of about USD 20 million.

Taking his official Twitter handle, Advisor to PM for Commerce and Investment, Abdul Razak Dawood said, ‘this investment signifies that the regulatory reforms & competitive local landscape are being recognized as an opportunity by investors.’

‘This acquisition also shows the confidence of international companies to invest in the future of Pakistani Pharma industry and highlights the realization of increased ease in doing business in Pakistan’, he concluded.

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