SAN DIEGO (FOX 5/KUSI) — Swiss pharmaceutical company, Novartis, has announced plans to build a new, $1.1 billion biomedical research complex in San Diego as part of a wider effort to expand its operations in the U.S. over the next five years.
The new facility will be the company’s second research and development hub in the U.S. and, according to a release announcing the move Thursday, is expected to serve as the “epicenter” of its work in biomedicine on the West Coast.
Additional investments the company announced alongside the San Diego campus include expansions to its manufacturing capabilities in the U.S. with both new facilities and expansions to existing ones.
California Coast and San Diego County credit unions announce possible merger
The company says it plans to put $23 billion total towards the effort, creating 1,000 new jobs at Novartis and 4,000 additional U.S. jobs as it brings the projects to fruition…