Swiss company Novartis acquires manufacturing facility to produce medicines in Pakistan

Novartis, a Swiss multinational company with a multi-decade presence in Pakistan, has acquired a manufacturing facility to produce medicines in the country, said Adviser to Prime Minister on Commerce Abdul Razaq Dawood on Monday.

Taking to Twitter, the PM’s aide said, “Novartis has expansion plan that will bring investment of about $20 million.”

He said the investment signifies that the regulatory reforms and competitive local landscape is being recognized as an opportunity by investors, adding that this acquisition also shows the confidence of international companies to invest in the future of Pakistan’s pharma industry.

…and highlights the realization of increased ease in doing business in Pakistan. 3/3@ImranKhanPTI @pid_gov @aliya_hamza @RadioPakistan @PTVNewsOfficial @appcsocialmedia @tdap_official @Emergingpk @investinpak

— Abdul Razak Dawood (@razak_dawood) October 19, 2020