• Most Popular
  • Most Shared

Novartis CEO says further buys are possible -paper

Sun Apr 13, 2008 7:08am EDT

Stocks

   

ZURICH, April 13 (Reuters) - Swiss drugmaker Novartis (NOVN.VX) could make more acquisitions after agreeing to buy Nestle's (NESN.VX) stake in eye care company Alcon (ACL.N) earlier this week, the group's head said in an interview published on Sunday.

"One can assume that we will not do an acquisition on this scale and not in this area. Medium-sized acquisitions, which are not planned at the moment, would certainly still be possible," Chief Executive Daniel Vasella told Swiss newspaper Sonntag.

"Diagnostics is a business field worth expanding, so are vaccines and generics," Vasella said.

Novartis said on Monday it had agreed to buy Nestle's 77 percent stake in Alcon in a deal worth up to $39 billion to boost its eye care business.

Novartis is keen to broaden its business by growing areas like vaccines, eye care and generics, as traditional prescription drugs face increasing competition from generic medicines and a tougher path to markets.

Vasella also said the group's pharma division pipeline was promising and was on the right track to return to dynamic growth after the unit's sales were last year hit by competition from generics. (Reporting by Katie Reid, editing by Will Waterman)



More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article