Novartis Builds 466,000ft² San Diego R&D Hub in $23bn US Plan
Novartis began building a 466,000ft² global biomedical research centre in San Diego scheduled for 2029, under a $23bn US investment to expand drug discovery in oncology, neuroscience and gene and cell therapies. Oppenheimer Asset Management lifted its Novartis position 6.4% to 222,892 shares in Q3.
1. Construction of San Diego Research Centre
Novartis has commenced construction on a 466,000ft² global biomedical research centre in San Diego, California, set to open in 2029 and employ 1,000 staff. The facility will integrate with Novartis sites in Basel and Cambridge to support end-to-end drug discovery across oncology, neuroscience, age-related diseases, regenerative medicine, gene and cell therapies and RNA-based platforms.
2. Oppenheimer Asset Management’s Stake Increase
Oppenheimer Asset Management raised its holdings in Novartis by 6.4% during Q3, purchasing 13,370 shares to reach a total of 222,892 shares. The move signals growing institutional confidence in Novartis’s long-term pipeline and strategic investments in innovation.