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Novartis down as Teva says can sell Famvir generic

Mon Oct 1, 2007 3:51am EDT

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ZURICH, Oct 1 (Reuters) - Novartis AG (NOVN.VX) shares fell on Monday after Teva Pharmaceutical Industries Ltd (TEVA.O) said it can now resume sales of its generic version of the Swiss company's herpes drug, Famvir.

Novartis shares were 0.4 percent lower by 0747 GMT, compared to a 0.1 percent rise in the DJ Stoxx European healthcare index .SXDP.

"As is the case with Lotrel, Novartis may launch its own generic of Famvir. This may allow Novartis to retain around 40 percent of U.S. sales by volume, but at a lower price point," said Denise Anderson, analyst at Landsbanki Kepler.

((Reporting by Sam Cage,

Editing by Quentin Bryar

Email: zurich.newsroom@reuters.com

Reuters Messaging: sam.cage.reuters.com@reuters.net

Telephone: +41 (0) 44 631 7457)) Keywords: NOVARTIS FAMVIR/

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