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Swiss pharmaceutical firm Novartis AG plans to expand its global headquarters in Cambridge by adding 400,000 square feet and hiring 300 workers over the next five years, according to a news release from the company. Novartis will pour $600 million into the expansion plans.
The site will cover four acres, located at 181 Massaschusetts Ave., leased from MIT and abutting the MIT campus. In total, Cambridge will host about 2,300 Novartis employees across more than 1 million square feet of laboratory and office space property, according to the company.
Cambridge is home to the Novartis Institutes for BioMedical Research, Novartis Vaccines and Diagnostics, and Novartis Molecular Diagnostics business units, as well as the U.S. site of the Novartis Venture Funds. The company’s research and developments include vaccines, diagnostics tools, generic pharmaceuticals and consumer health products.
The Novartis' plans for growth in Cambridge – without specific numbers – first made the news in May 2009.
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