Date:11/07/2008 URL: http://www.thehindu.com/2008/07/11/stories/2008071156191700.htm

Business - Briefly

Novartis to buy Speedel

SWITZERLAND: Novartis AG said on Thursday that it has acquired 51.7 per cent stake in Swiss pharmaceutical maker Speedel Holding bringing its present stake in the company to 61.4 per cent. It intends to buy the remaining stake in Speedel Holding. The total costs of the takeover is estimated at 907 million Swiss francs ($880 million), Novartis said.