Switzerland's Novartis Reports China Results

Novartis has reported that its revenues in China totalled CNY1.56bn (US$188.49mn) in 2004, 36.3% higher than in 2003. The Swiss drug major's branded prescription pharmaceuticals posted growth of 39.1%, while revenue at its consumer health division increased by 15.5%. The company also announced that it will expand its manufacturing facility in Beijing's Changping district.

Further, Novartis China president Li Zhenfu pledged that the company's Sandoz generics division is to enter the country through new acquisitions, and that Novartis will launch six new patented drugs this year. However, officials warned that the company will comply with this year's government-mandated price cuts in China, its fastest-growing market.