Home » Novartis Buys Generic Drugmakers Eon, Hexal
Novartis Buys Generic Drugmakers Eon, Hexal
Novartis announced that it will buy generic drugmakers Eon Labs of the United States and Hexal of Germany for $8.3 billion, creating the world's largest generic drug company. The Swiss pharmaceutical giant said it will buy all of Hexal and the two-thirds of Eon Labs that the German company owns for 5.65 billion euros (roughly $7.3 billion). In addition, Novartis expects to spend close to $1 billion to buy the remaining Eon Labs shares, which trade on the Nasdaq Stock Market.
USA Today (http://www.usatoday.com/money/industries/health/drugs/2005-02-21-novartis-acquisitions_x.htm?csp=34)
KEYWORDS FDAnews Drug Daily Bulletin
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