Novartis aims to acquire all of Speedel

The Basel pharmaceutical group Novartis plans to fully acquire a research partner – the biotech company Speedel - for about SFr907 million ($882 million).

This content was published on July 10, 2008 - 09:34

Novartis announced on Thursday that in a first step it had raised its stake in Speedel, which has a number of projects targeting heart disease, by 51.7 per cent to 61.4 per cent.

In a statement, Novartis said it had bought the shares from major Speedel shareholders – including 21.5 per cent from Speedel chief executive Alice Huxley – for SFr130 per share in cash.

It said it would offer the same price to shareholders for the remaining stake.

The two companies have worked together to develop a hypertension treatment that became the first new medicine for high blood pressure in more than a decade.

Novartis says the Speedel pipeline provides access to many research and development projects targeting heart disease.

This article was automatically imported from our old content management system. If you see any display errors, please let us know:

Share this story

Join the conversation!

With a SWI account, you have the opportunity to contribute on our website.

You can Login or register here.