Novartis makes right moves to stay healthy

Swiss pharmaceutical giant Novartis began its involvement with China more than a century ago, when one of Novartis' predecessors, Geigy, entered the China market with the dye business in 1886. As a critical step in establishing its global R&D network, Novartis announced the most advanced comprehensive R&D center in China in the Shanghai Zhangjiang Hi-tech Zone in November 2006. The company has invested more than $330 million in China and its sales revenue here reached approximately 2.6 billion yuan last year.

In collaboration with its Chinese partners, Novartis developed Coartem, a drug combination that is regarded as the most effective and available treatment for malaria. It is distributed through the WHO as part of the worldwide Roll Back Malaria initiative, which has saved hundreds of thousands of lives in the world's poorest nations.

According to Dr. Daniel Vasella, chairman and CEO of Novartis, the company has a long-term commitment to the China market. He recently spoke with China Daily reporter Qian Yanfeng about the market potential in China, and the challenges in adapting to the changes within the pharmaceutical industry.