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Article: France Could Stall Novartis, Aventis Deal; Merger Could Cost New Jersey Jobs.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 24, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Lewis Krauskopf, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News
Mar. 24--The fate of thousands of New Jersey pharmaceutical workers could rest with the French government.
Novartis AG said Tuesday that a feasibility study of a merger with French drug marker Aventis concluded a "business case" is viable. But Novartis also said that the French government has a "negative attitude" toward the deal and would enter negotiations only if the government became "neutral."
Analysts foresee New Jersey job losses if the two European pharmaceutical giants become one. Both have their U.S. headquarters in New Jersey and between them ...