Giant Swiss pharmaceutical company, Novartis has established a subsidiary in Cork which will employ 70 people in quality control and quality assurance for its global production of bulk raw materials.

Novartis International Pharmaceutical - which is based at Novartis' bulk production plant in Ringaskiddy - is expected to be fully operational by the end of 2000 and will provide logistical services for Novartis chemical production units worldwide.

Novartis Ringaskiddy Ltd currently employs 300 people in the production of bulk active ingredients for a range of speciality drugs for use in the treatment of cancer as well as immunologic, cardiovascular and central nervous system diseases. Novartis is a world leader in the life sciences with core businesses in healthcare, agri-business and nutrition. Last year it had total sales of £15.6 billion. It employs 87,000 people and operates in over 100 countries.