No Hidden Surprises From US FTC For Birth Of Novartis

Everything was as expected when the US Federal Trade Commission finallygave the go-ahead to the two Swiss firms Ciba and Sandoz to merge into the new global number one life sciences entity, Novartis (Marketletter December 23, 1996).

The conditions laid down for the merger by the FTC were that the US corn herbicide busines be divested, along with flea and tick control products within the animal health business. Also, the FTC required that Novartis provide access to its gene therapy.

Ciba and Sandoz have already disposed of the corn herbicides business, which has been acquired by BASF for $778 million, and animal health products have been sold off for $42 million to Central Garden.