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,...
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