Novartis will invest 50 million dollars in Mexico

Novartis reported this Wednesday that it will invest 50 million dollars in clinical research in Mexico over the next three years.

Fernando Cruz, president of Novartis Mexico, and the Undersecretary of Economy, Héctor Guerrero, announced the investment at a press conference at the headquarters of the Ministry of Economy.

Cruz highlighted that the pharmaceutical company is planning to develop a regional clinical research center in Mexico.

The investment is included as part of a memorandum of understanding signed between Novartis and the Ministry of Economy, in which the company also commits to promoting small and medium-sized enterprises (SMEs) and promoting the acceleration of digitization, among other points.

Cruz said that Mexico has the potential to attract more global investment in this industry and that Novartis has operations in 155 countries, of which 15 are considered “strategic markets,” including Mexico.

In 2021, Novartis generated some 12,000 direct and indirect jobs in Mexico and contributed 400 million dollars to the country’s Gross Domestic Product (GDP).

In turn, Guerrero said that the Novartis investment will allow the development of “well-paid” jobs and promote the economic development of the country.

The Novartis research program is run by Novartis Institutes for Biomedical Research (NIBR), which is the company’s early research and development innovation engine.

NIBR is responsible for discovering new drugs for diseases with unmet medical need.

The company focuses its work on areas where it believes it can have the greatest impact for patients.

This requires the recruitment and retention of highly talented employees, a focus on fundamental disease mechanisms that are relevant to different disease areas, continuous improvement in technologies for potential drug and therapeutic discovery, close alliances with clinical colleagues and the establishment of external strategic alliances.

Cruz highlighted that, on average, for every dollar invested in clinical research, an impact of between 1.8 and 3 dollars is generated in the economy.

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