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news.Novartis has acquired 85% stake in Zhejiang Tianyuan Bio-Pharmaceutical, a Chinese vaccines company, as part of its plans to expand presence in Chinese vaccine market.
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Novartis further intends to collaborate with the Chinese vaccine company for strengthening its vaccines portfolio and pipeline, as well as align production processes and quality standards.
Novartis Vaccines and Diagnostics head Andrin Oswald said this agreement combines the strength of their vaccines R&D strategy and pipeline with Tianyuan’s knowledge of the vaccines market in China, enabling them to better deliver a range of vaccines to the Chinese people.
Tianyuan chairman and CEO Ding Xiaohang said they have already identified several joint development programs that could be implemented in China over the next ten years, with the potential of launching key products responding to unmet medical needs in the mid-term.