Novartis To Topple Teva As World's Largest Generics Maker

Law360, New York (February 21, 2005, 12:00 AM EST) -- Swiss drug maker Novartis’ acquisition of Hexal in Germany and Eon Labs in the U.S. for a total of more than $8 billion will create the world’s largest generics drug maker, toppling Israel’s Teva Pharmaceuticals.

Novartis said on Monday it would buy all of privately held Hexal and the two-thirds of Eon Labs that the German company owns for roughly $7.3 billion. Novartis also expects to spend close to $1 billion for the remaining Eon shares.

The two companies will be merged into its Sandoz business,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.