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Novartis to acquire 85% of Chinese vaccines company Zhejiang Tianyuan

Nov 05, 2009 (M2 EQUITYBITES via COMTEX) --

Company: Novartis AG (NVS)

Swiss pharmaceutical company Novartis (VTX:NOVN) reported on Wednesday that it has entered into an agreement to acquire an 85% stake in Chinese vaccines company Zhejiang Tianyuan Bio-Pharmaceutical Co Ltd for approximately USD125m.

Novartis said that this is in line with its strategy to grow in the vaccines industry in China.

The two companies intend to collaborate on building a vaccines industry leader targeting unmet medical needs in China.

The acquisition remains subject to government and regulatory approvals in China. 

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Company: Novartis AG (NVS)


Related terms: acquisition, china, government, medical, pharmaceuticals

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