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Novartis to invest CHF70 million in a new Swiss production unit

The Swiss pharmaceutical company has announced that it is constructing a new production unit for experimental drugs on the outskirts of the city of Basel. 

The CHF70 million (around $77.5 million) investment will give it two new production lines, Novartis said on Tuesday. Both will be dedicated to producing active ingredients for experimental medicines. The production lines will be developed in an existing building in the Schweizerhalle industrial area on the outskirts of Basel.  

These new facilities will be commissioned at the end of next year. This investment confirms the importance of Schweizerhalle as a global production site, Novartis said.