Novartis, the world’s third largest pharmaceutical company, said it plans to invest US$1.25bn in two Chinese R&D centres over the next five years. It will invest US$250m in a new R&D centre and manufacturing facility in Changshu, Jiangsu province, and another US$1bn to add 1,000 researchers at an existing centre in Shanghai that currently employs 160 people.

So far, the Switzerland-based company has invested more than US$300m in China and has more than 4,100 employees in the country working on vaccines, generic drugs and animal health products.