The Swiss company Novartis has announced its plans to build Latin America’s first vaccine factory in Goiana Brazil. The project will require an investment of 300 to 500 million dollars. Construction will begin this year and plans are to begin producing vaccines in early 2014.
The company chose Brazil due to its strong intellectual property laws, the stability of the country both politically and from a judicial level. Novartis already has factories in San Paulo and Rio that produce chemical raw materials.
Novartis had annual revenues in 2009 of 44.3 billion, including one billion from its Brazilian operations.