Novartis acquires Lagap of the UK

Novartis says that its generics arm has completed the acquisition ofLagap Pharmaceuticals of the UK from the South African drugmaker Adcock Ingram. Financial details were not disclosed. Described by Novartis as being "ranked among the leading British generic pharmaceutical companies," Lagap achieved turnover of L27 million ($38.7 million) in 2000 and has approximately 70 employees.

UK - number two generics market in Europe

Oswald Sellemond, head of Novartis Generics, said that "as a global leader in generics, our strategic goal is to be present in every major pharmaceuticals market," and added that the UK is the number two generics market in Europe (and fourth in pharmaceuticals as a whole). The purchase gives Novartis "a successful entry" into that market, Mr Sellemond claimed.