Novartis yesterday revealed plans to invest $1bn to expand its Shanghai laboratories and make China the third pillar of its global research and development capabilities.
Daniel Vasella, chairman, said the Swiss drugs group would build a new campus in Shanghai to house its research activities, which would employ 1,000 scientists in five years' time.
The announcement is the latest sign that major pharmaceuticals groups are eager to tap China's growing scientific base and demonstrates how emerging economies have become central to their plans as markets in the US and Europe struggle.
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