Tuesday, February 22, 2005

Novartis: king of the generics?

from Reuters:

Novartis AG became the world's biggest generic [copy-cat] drug maker by agreeing to buy unlisted German firm Hexal and U.S. company Eon Labs in a cash deal worth a total of more than $8 billion.

Novartis will buy all of Hexal and 67.7 percent of Eon Labs from Germany's Struengmann family for 5.65 billion euros ($7.4 billion), it said on Monday, giving it a leading position in the major markets for generic versions of off-patent drugs.


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