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Novartis to acquire 85% stake in Zhejiang Tianyuan Bio-Pharmaceutical

Nov 05, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

Company: Novartis AG (NVS)

Novartis AG, a Switzerland-based pharmaceutical company, has entered into an agreement to acquire an 85% stake in Zhejiang Tianyuan Bio-Pharmaceutical Co., Ltd., a China-based vaccines company. The transaction is valued at approximately CNY850 million ($125 million) in cash. 

Deal Value (US$ Million) 125
Deal Type                Acquisition
Sub-Category             Majority Acquisition
Deal Status              Announced: 2009-11-04

Deal Participants 

Target (Company)   Zhejiang Tianyuan Bio-Pharmaceutical Co., Ltd.
Acquirer (Company) Novartis AG

Deal Rationale

The acquisition enables Novartis to expand its human vaccines presence in China. 

% Acquisition 85%

Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved

News Provided by COMTEX

Company: Novartis AG (NVS)


Related terms: acquisition, china, pharmaceuticals, switzerland

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