Novartis eyes buy-out of biopharma firm Speedel
Swiss pharmaceutical giant Novartis said it had boosted its stake in biopharmaceutical firm Speedel by 51.7 per cent and aimed to buy it out completely for 907 million Swiss francs.
By Agencies |
ZURICH: Swiss pharmaceutical giant Novartis said on Thursday it had boosted its stake in biopharmaceutical firm Speedel by 51.7 per cent and aimed to buy it out completely for 907 million Swiss francs (560 millions euros, 882 million dollars).
Novartis added the 51.7 per cent to its existing 9.7 stake in Speedel for 130 Swiss francs cash per share, it said in a statement.
The 882 million dollar figure is what Novartis expects to pay for the entire acquisition of Speedel, including its initial 9.7 per cent stake.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
