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Article: Novartis buys cancer drug unit; Bolsters Generics Line.(TOP STORIES)(Novartis AG)(EBEWE Arzneimittel GmbH)(Brief article)
- Article from:
- MondayMorning
- Article date:
- June 1, 2009
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Novartis AG is buying the injectable generic cancer drugs business of Austria's EBEWE Pharma and may pursue other similar deals as it fleshes out a planned diversification away from brand-name treatments. The Swiss firm, which said last week it is paying 925 million euros ($1.3 billion) in cash for the business, is also looking forward to a successful 2009 despite the recession, Chief Executive Daniel Vasella said. "I would say we had a good start to the year and I'm confident that the year will be a good one, despite the economic challenges," Vasella said. Asked about further acquisitions, he said major buys were unlikely as Novartis is still committed to securing a ...