Novartis buys B-MS generics op in USA

Novartis of Switzerland has announced that its Biochemie genericsaffiliate in the USA has signed a definitive agreement to acquire the US rights to the product line of Apothecon, the generic arm of Bristol-Myers Squibb.

The acquisition, which includes the US rights to Apothecon's generic oral and injectable antibiotic brands, was expected to be completed by January 1, 2001, and comes in the wake of Novartis' recent purchase of the European generics business of BASF Pharma for 115 million euros ($97.9 million; Marketletter December 11, 2000). No financial details were disclosed, but Novartis noted Apothecon generates annual sales of around $100 million.

Oswald Sellemond, head of Novartis Generics, said that the strategic significance of the acquisition "is that it gives us immediate entry into the finished antibiotic medicines arena in the world's largest pharmaceutical market," and complements the firm's "established excellent position in the US bulk antibiotics market."