Novo Nordisk said it would not pursue mergers and acquisitions in China and would instead expand by strengthening its R&D activity, building manufacturing facilities and enhancing education, China Daily reported Thursday.
"A few multinational companies made acquisitions (in China) to get entry into the generic medication and (over-the-counter) business. Novo Nordisk is another kind of company. We want to concentrate on innovative new drugs," Ronald Frank Christie, senior vice-president of Novo Nordisk and president of Novo Nordisk (China) Pharmaceuticals said.
Lars Rebien Sorensen, president and chief executive officer of Novo Nordisk said the company will "continue to invest in the emerging market, also the fastest-growing market for Novo Nordisk."
"We are not interested in bringing in generic (products). We are only interested in bringing new drugs to the market, to make a difference," Christie added.
"We believe that the capacity of manufacturing (in Tianjin) will supply our demand at least for the next three or four years," said Sorensen, but noted that "perhaps, two years from now, we may have to consider further investment, but it's too early to talk about that."