Novartis could pay up to USD 10bn for individual acquisitions; no deadline for US generics unit decision
Novartis [VTX:NOVN], the Swiss pharmaceutical group, is prepared to pay up to USD 10bn for individual acquisitions, Aargauer Zeitung reported. The Swiss daily cited Novartis' incoming CEO Vasant Narasimhan who said sums up to this amount are possible, but he is not intending to make large buys at the moment. The paper noted this figure as being twice as much as before.
Regarding the problem of the Sandoz generics unit, another Swiss daily, Der Bund, quoted Narasimhan who said he is examining options but there is no fixed schedule. The report added Narasimhan has to decide whether to sell the US generics business or close down parts of it.
A previous report said Novartis is expanding its plan to sell US generic assets and could sell parts of its Sandoz business valued at USD 2bn to USD 3bn.
The Aargauer Zeiting article was published today on page 11.
The Der Bund article was published today on page 11.