Novartis says has no intention of buying Actavis
ZURICH (Reuters) - Novartis has no plans to bid for U.S.-based generic drugmaker Actavis, which is the subject of intense takeover speculation, a spokesman for the Swiss drugmaker said on Thursday.
"We have no intention to pursue them," spokesman Eric Althoff said in response to inquiries.
The Wall Street Journal earlier reported that Novartis - which operates a large generics business called Sandoz - was considering whether to enter the fray, after Actavis rebuffed separate takeover offers from Valeant Pharmaceuticals International Inc and Mylan Inc.
NEW YORK - U.S. stocks fell on Thursday, with the Dow and S&P 500 dropping for a fifth straight session after a round of mixed economic data left traders guessing as to when the Federal Reserve would begin to slow its stimulus program.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.