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Home Industry News Novartis gets green flag to buy Chiron

Novartis gets green flag to buy Chiron

8th February 2006

Novartis has received approval from the European Commission for its proposed acquisition of Chiron.

The decision follows similar clearances in the US and means the firm can buy the remaining shares in Chiron that it does not currently own.

When the deal was announced Novartis chairman and CEO Dr Daniel Vasella outlined the firm’s strategy for the future of Chiron.

He said: “Our plan is to turn around the Chiron vaccines business, which will require investments in R&D and manufacturing to increase quality and capacity, so that we can better meet customer demand and address public health needs.

“Together with the dynamically growing diagnostics business, vaccines will form a new division, while biopharmaceuticals will be integrated into the existing pharmaceuticals business of Novartis.”

Novartis is to pay around $5.1 billion for the shares it does not own, but hopes to double vaccine sales over the next five years to over $20 billion.

track© Adfero Ltd

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