Luz María de la Mora, undersecretary of foreign trade, announced that Novartis, a multinational pharmaceutical and biotechnological company, will invest US$20 million in Mexico.

"Novartis is very interested in developing its service center in Mexico. They have an expected investment in Mexico of more than US$20 million. The investment will expand the service center in Mexico, its research and development," she said.

De la Mora said that the commitment of the Swiss-based pharmaceutical company is to maintain its investment plan in Mexico in the coming years.

The announcement was made after an interview of the Mexican Undersecretary of Commerce with executives of the pharmaceutical company during Foro de Davos.

The pharmaceutical company has already invested US$30 million in Mexico.

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