New World Research Headquarters for Novartis
By Biotechdaily staff writers
Posted on 15 Nov 2002
Following a worldwide search, one of Europe's leading pharmaceutical companies has chosen Cambridge, MA (USA), as the site of its new world research headquarters, to be called Novartis Institute of Biomedical Research. Posted on 15 Nov 2002
Novartis (Basel, Switzerland) has leased around 764,000 square feet of space in Cambridge, where renovated laboratories will accommodate around 1,000 workers. This new research center will supplant the lead role of the company's research center in Basel (Switzerland). Novartis says it expects to spend about US$750 million on developing, equipping, and staffing the new research center.
The site is close to the Massachusetts Institute of Technology and Harvard University as well as a large number of biopharmaceutical companies. Industry analysts speculate that the location was chosen because it will provide Novartis with access to US talent and consumers while allowing the company to evade the regulatory complexities of the European biopharmaceutical industry. Novartis research centers in other US states and in Japan will continue to operate as before, says the company.
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