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Novartis says has no intention of buying Actavis
May 16, 2013 / 1:00 PM / in 5 years

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.

A Novartis logo is pictured on its headquarters building in Mumbai April 1, 2013. REUTERS/Vivek Prakash

“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.

Reporting by Caroline Copley and Ben Hirschler

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