Novartis To Expand In Cambridge, Mass.
From UPI Business News (October 27, 2010)
Swiss pharmaceutical firm Novartis AG said it would spend $600 million on its operations in Massachusetts, adding as many as 300 employees.
The drug firm already has 2,300 research and administrative personnel in Cambridge, The Boston Globe reported Wednesday. As such, it is the largest employer in the city, the newspaper said.
"People have found this to be one of the most exciting places to do this work in the world," said Mark Fishman, Novartis’ president of Institutes for Biomedical Research.
Drug companies have been attracted to the greater Boston area because of its major universities and start-up biomedical research firms. French drug giant Sanofi Aventis SA recently pledged to spend $65 million expanding its facilities in Cambridgeport, expecting to add 300 to its payroll.
"It’s the talent. It’s the concentration of all the parties who are working on new technologies and new capabilities. The big pharma companies are always doing partnerships and deals. By coming here, it makes it a whole lot easier for them to be part of the conversation,’’ Scientia Advisors managing partner Harry Glorikian said.
Posted: October 2010