Novartis Purchase Of Chiron Puts Spotlight On Biologics

Law360, New York (November 1, 2005, 12:00 AM EST) -- Drug maker Novartis AG’s acquisition of Chiron Corp. will expand the Swiss company’s footprints in the U.S. biotech market even as its generics division braces for a battle to launch the first generic biotech drugs in the United States.

Chiron Corp. said Monday its board of directors has accepted a $5.1 billion takeover offer from Novartis, which already owns 42% of the beleaguered biotech company. Founded in 1981, Chiron is the third-oldest biotechnology company after industry leaders Amgen Inc. and Genentech Inc.

The acquisition will give...
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