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...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.