Novartis Enters Into Agreement With Tianyuan
To facilitate the introduction of its vaccines in China, where Novartis currently has a limited presence
As part of a strategic initiative to expand the group's limited presence in China, Novartis has entered into an agreement to acquire 85% stake in Zhejiang Tianyuan Bio-Pharmaceutical (Tianyuan). The proposed acquisition will require government and regulatory approvals in China.
As per the collaboration, the two companies are expected to work together to expand Tianyuan's product portfolio and R&D pipeline through targeted investments in vaccines innovation, manufacturing technologies and commercial networks.
The collaboration is also expected to facilitate the introduction of Novartis vaccines into China, where Novartis currently has a limited presence with an offering of vaccines against influenza and rabies.
Daniel Vasella, chairman and CEO of Novartis, said: “Novartis has a long-standing commitment to improving healthcare in China. Our future activities with Tianyuan are an important step in our strategy to enhance the prevention of diseases in China with high-quality products.”
Ding Xiaohang, founder, chairman and CEO of Tianyuan, said: “Our mission is To build the Great Wall of Health for the people. I personally look forward to working with Novartis to continue our mission by bringing more innovative vaccines to China and building Tianyuan into a true international vaccines company.”
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