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| Think Tank |
This week we focus on a complete analysis of the
 pharma industry
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Deal with Novartis sealed
OCTOBER 21: Novartis Enterprises Pvt Ltd (NEPL), the 100 per cent subsidiary of Swiss giant Novartis AG, has sealed the deal to acquire Hoechst Marion Roussel's Thane manufacturing facility for about Rs 12 crore.Sources close to the deal said that negotiations have been concluded but some paperwork was being sewn up. "HMR will receive roughly Rs 10 crore in this calendar year while the remaining sum will come in by the next calendar year," they said. Novartis spokesperson said, "I confirm that NEPL is in the process of completing the transaction for acquiring the facility. The consideration is a little over Rs 100 million."Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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