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)