Novartis swoops for Hexal and Eon Labs
The deal will make Novartis’ Sandoz division the world leader in the production of generic or copy cat drugs, bypassing Israel’s Teva Pharmaceuticals Inc.
According to Novartis the deal will create cost synergies of $200 million a year within three years of closing, half of which would be realized within 18 months. The synergies will predominantly lie in the production, sales and administration.
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