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Nordisk has innovative prescription for expansion

(China Daily)

09:58, November 02, 2011

BEIJING - The world's largest insulin producer, Novo Nordisk A/S, said it would not pursue mergers and acquisitions (M&A) in China but would instead expand by strengthening its research and development (R&D) activity, building manufacturing facilities and enhancing education.

"A few multinational companies made acquisitions (in China) to get entry into the generic medication and (over-the-counter) business.

"Novo Nordisk is another kind of company. We want to concentrate on innovative new drugs," Ronald Frank Christie, senior vice-president of Novo Nordisk and president of Novo Nordisk (China) Pharmaceuticals Co Ltd, said on Monday.

According to Lars Rebien Sorensen, president and chief executive officer of Novo Nordisk A/S, the Denmark-based company has made "substantial" investments in China in R&D, manufacturing and education.

He said the company will "continue to invest in the emerging market, also the fastest-growing market for Novo Nordisk".

The drugmaker, which has focused on diabetes for more than 80 years, said last year it would invest more than $100 million to expand its R&D center in Beijing and double its R&D staff to 200 within five years.

The center in Beijing is Novo Nordisk's largest such facility outside its headquarters in Copenhagen.

"We are not interested in bringing in generic (products). We are only interested in bringing new drugs to the market, to make a difference," said Christie.

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