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Novartis plans no big buys, to keep Roche stake

Mon Sep 15, 2008 2:21am EDT

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ZURICH, Sept 15 (Reuters) - Swiss drug firm Novartis (NOVN.VX) does not plan any more big acquisitions after buying a big stake in eye care company Alcon Inc (ACL.N) and also has no plans to take over its rival Roche (ROG.VX), its chief executive said.

Novartis boss Daniel Vasella told Germany's Handelsblatt in an interview that the company's agreement earlier this year to acquire a majority stake in Alcon from Nestle (NESN.VX) "settled the question of further big acquisitions".

Asked whether Novartis would be interested in a merger with Roche, in which it has a 33 percent stake, Vasella said: "That is not up for debate at the moment and so it is a purely hypothetical question."

He also rejected the idea of selling the Roche stake to pay for the Alcon deal: "We are very consistent, almost boring as far as our involvement in Roche is concerned."

He said Novartis would continue to look for smaller add-on buys. (Reporting by Emma Thomasson; Editing by David Holmes)



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