Novartis Announces Major Renovation Plan at East Hanover Headquarters

    EAST HANOVER, N.J., Feb. 2 /PRNewswire-FirstCall/ -- Novartis
 Pharmaceuticals Corporation announced today that it plans to renovate over
 300,000 square feet of office space at its East Hanover campus, enabling the
 company to provide additional space for many operations that were previously
 located off-site throughout New Jersey.
     The Novartis site renovation program will be made possible in part through
 an incentive grant from the State of New Jersey's new Business Retention and
 Relocation and Assistance Grant ("BRRAG").  Under the BRRAG program, Novartis
 will receive sales tax exemptions on the purchase of building materials,
 machinery, equipment, furniture and furnishings in connection with the
 renovation project.  The company plans to invest approximately $50 million
 through the end of 2005 to help consolidate a variety of business functions,
 which encompasses approximately 725 professional positions.  Last May,
 Novartis received approval for a Business Employment Incentive Program (BEIP)
 Grant as part of the overall renovation project.  As part of the BEIP grant,
 the company plans to hire 250 new employees over a two-year period.  Novartis
 currently employs approximately 4,000 people at its East Hanover campus.
     "We had a choice as to where we locate our key operations and we chose New
 Jersey," said Gary Rosenthal, Chief Financial Officer of Novartis
 Pharmaceuticals Corporation.  "The support from Acting Governor Codey's office
 and State Treasurer John McCormac was tremendous and played a vital role in
 our decision to consolidate our operations here in New Jersey.  We greatly
 appreciate their support with this important project."
 
     About Novartis
     Novartis Pharmaceuticals Corporation researches, develops, manufacturers
 and markets leading innovative prescription drugs used to treat a number of
 diseases and conditions, including central nervous system disorders, organ
 transplantation, cardiovascular diseases, dermatological diseases, respiratory
 disorders, cancer and arthritis.  The company's mission is to improve people's
 lives by pioneering novel healthcare solutions.
     Located in East Hanover, New Jersey, Novartis Pharmaceuticals Corporation
 is an affiliate of Novartis AG (NYSE:   NVS) -- a world leader in
 pharmaceuticals and consumer health. In 2004, the Group's businesses achieved
 sales of USD 28.2 billion and net income of USD 5.8 billion.  The Group
 invested approximately USD 4.2 billion in R&D.  Headquartered in Basel,
 Switzerland, Novartis Group companies employ approximately 81,400 people and
 operate in over 140 countries around the world.  For further information
 please consult http://www.novartis.com.
 
      Contacts
 
      Bob Laverty
      Novartis Pharmaceuticals Communications
      Tel   862-778-3564
      bob.laverty@pharma.novartis.com
 
 

SOURCE  Novartis Pharmaceuticals Corporation

RELATED LINKS
http://www.us.novartis.com