Government enters MoU with Novartis

Novartis to invest Rs. 500 crore - To employ 5000 persons

The Andhra Pradesh State Government entered into a Memorandum of Understanding with Novartis, the fourth largest pharmaceutical company in the world for setting up of health care related information technology enabled services in addition to development facilities.

IT Secretary K. Ratna Prabha and Novartis India Vice Chairman and Managing Director Ranjit Shahani signed the MoU in the presence of the Chief Minister, Dr. YS Rajasekhara Reddy on Thursday. The company plans to invest Rs.300 to Rs.500 crore in the near future and provide employment to nearly 5000 persons according to a press release issued.

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