Geneva completes Invamed acquisition
Geneva Pharmaceuticals, one of the largest generic pharmaceuticalcompanies in the USA and a subsidiary of Novartis, has acquired Invamed, a specialist manufacturer of off-patent drugs. No financial details were disclosed and the new entity is to be named Geneva Pharmaceuticals Technology Corporation.
David Hurley, Geneva's chief executive, said that the acquisition will provide the firm with "one of the most robust product pipelines in the industry and will greatly enhance our development capabilities."
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