EU Commission clears proposed acquisition of EBEWE SP by Novartis

23 September 2009

The European Commission has approved under the European Union Merger Regulation the proposed acquisition of the Austrian generic pharmaceuticals company EBEWE Spezial'Pharma Holding by Swiss drug major Novartis of Switzerland, a pharmaceutical company with both originator and generic activities, the latter through its Sandoz unit.

Novartis announced its intention to acquire the Austrian firm back in May, in a deal which values the latter at 925 million euros ($1.36 billion), in an all cash transaction.

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