Novartis Opens New Manufacturing Facility In California In Bid To Increase US Presence

• The facility is part of the company’s commitment, earlier this year, to invest $23 billion in the U.S. over the next five years. 
• Novartis is now also planning two additional RLT manufacturing facilities in Florida and Texas. 
• The U.S. is one of Novartis’ priority geographies in addition to China, Germany, and Japan.

Novartis (NVS) on Monday said that it has opened a new 10,000-square-foot radioligand therapy (RLT) manufacturing facility in Carlsbad, California, marking its third RLT manufacturing site in the country.

The facility is part of the company’s commitment earlier this year to invest $23 billion in the U.S. over the next five years.

Goals Of The New Facility

The new facility is designed to add capacity for radioligand therapy, meeting future demand, and enhance the company’s supply chain capabilities, Novartis stated.

Radioligand therapy is a targeted cancer treatment that combines a radioactive substance (radioisotope) with a cancer-targeting molecule (ligand). It is aimed at reducing damage to surrounding cells.

However, each RLT dose is custom-made and time-sensitive, making proximity to treatment centers and transit hubs necessary for patient access. The new site will ensure access to patients across the western U.S., Alaska, and Hawaii, Novartis said.

Commercial manufacturing at the facility is expected to begin once approval is granted by the U.S. Food and Drug Administration, the company added.

Future Expansion Plans

Novartis is now also planning two additional RLT manufacturing facilities in Florida and Texas.  

In addition, it is also eyeing expansion of existing sites in Durham, North Carolina, Indianapolis, Indiana, and Millburn, New Jersey, and expects to establish a second global research and development hub in the U.S. in San Diego, California.

The U.S. is one of Novartis’ priority geographies, alongside China, Germany, and Japan.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around NVS stock stayed within the ‘bearish’ territory over the past 24 hours, while message volume stayed at ‘low’ levels.

NVS stock is up 31% this year and approximately 20% over the past 12 months. 

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