Novartis reports that it has made the purchase of a majority interest in Zhejiang Tianyuan through proposed acquisition of a majority stake for US$125 million to expand its human vaccines presence in China. Zhejiang Tianyuan is a privately-held vaccines company providing a competitive product portfolio and pipeline in China, where Novartis has a limited vaccines presence. Tianyuan and Novartis are to collaborate on building a vaccines industry leader targeting unmet medical needs in China, the world's third-largest vaccines market. Acquisition of 85% stake in Tianyuan for approximately US$125 million will require Chinese regulatory and government approvals.

Tianyuan is a privately-owned vaccine company offering a range of marketed vaccine products in China and R&D projects focused on various preventable viral and bacterial diseases. Tianyuan has been delivering dynamic and profitable growth, having more than doubled its net sales to approximately US$25 million in 2008.

SOURCE Hard to Treat Diseases