Novartis chief: Not interested in AstraZeneca

Novartis’ chief executive, Dr Daniel Vasella, said his company has no interest in merging with AstraZeneca.

Along with GlaxoSmithKline, Novartis had been touted as a possible buyer for the UK’s second largest pharmaceutical company.

Novartis, a Swiss company, has already acquired Chiron this year, an acquisition that impacted upon the company’s profits during the last quarter due to charges related to Chiron’s acquisition.

Dr Vasella said that his company would be making no further acquisitions of a company of AstraZeneca’s size.

He told Bloomberg: “When you hear rumours about us looking at companies like AstraZeneca, they’re not coming from us.”

According to Reuters, Dr Vasella reiterated his stance during a post-results webcast, stating: “You shouldn’t expect any major transaction on our side. You can forget when you hear rumours about AstraZeneca or other companies.”

AstraZeneca’s short-medium term is said by many analysts to be sparse, prompting some to predict that the medium-term future for AstraZeneca shareholders might not be plain sailing.

ING Brokerage is quoted by Reuters Health as saying: “We believe the outcome of many of these events is unpredictable, creating a rocky road ahead for AstraZeneca shareholders.”

AstraZeneca is currently in the process of purchasing British biopharmaceutical company Cambridge Antibody Technology. Novartis is similarly in the midst of a takeover attempt for the Manchester-based firm, NeuTec, which produces new compounds for use as antifungal treatments and antibiotics.

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