US regulatory review of the proposed merger of the Swiss pharmceutical firms Sandoz and Ciba-Geigy to form Novartis (Marketletters passim) may be delayed due to the US regulatory approval process taking longer than had been anticipated.
Daniel Vassella, who is designated chief executive of Novartis, said in a TV interview with Reuters that the launch of the firm may not happen until January next year. "If I wanted to be very precise, I would say that I am hoping for a January launch of Novartis, and when I say hoping it implies that I don't think it completely unrealistic but I also don't think it's a sure bet," he said in the interview.
Sandoz and Ciba-Geigy had hoped to complete the merger late this summer or early fall. Clearance from the European Union for the merger was given in July.
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