The Swiss-based pharmaceutical company put $7.5 billion into R&D, 3.5 percent more than in the previous year. That’s in sharp contrast to the average company in the Booz and Co. survey, which cut R&D spending by 3.5 percent. According to its website, Novartis has 143 R&D projects in various stages of clinical development at 20 locations on three continents. In addition to research pertaining to human diseases and conditions, the company does work in animal health, for both pets and livestock. Novartis was formed in 1996 by the merger of two Swiss companies, Ciba-Geigy and Sandoz Laboratories.
Brendan McDermid/Reuters
