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Novartis Leases Cambridge Property

Xconomy Boston — 

Swiss drug giant Novartis has signed a long-term lease on property at 181 Massachusetts Ave.,  in Cambridge, MA, according to a report today in the Boston Globe. MIT reportedly owns the land, where it has a two-acre parking lot. Novartis, which already has the global headquarters of its R&D unit, Novartis Institutes for BioMedical Research, in Cambridge, has no immediate plans to develop the land it has leased, company spokesman Jeffrey Lockwood says.