Novartis wraps up Eon
Executive Summary
Sandoz, Hexall AG and newly added Eon Labs are expected to generate more than 80 generic approvals per year, the parent company says July 21. Novartis completed the acquisition of Eon two days after receiving clearance from the Federal Trade Commission. Under a proposed consent order with FTC, Novartis agreed to divest three generic drugs - Sandoz' muscle relaxant orphenadrine and tuberculosis treatment rifampin, and Eon's antidepressant desipramine - to Amide Pharmaceuticals. "The Pink Sheet" (1July 18, In Brief) incorrectly identified desipramine as a Sandoz drug and rifampin as an Eon product...
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Sandoz generic divestitures
Sandoz and Eon will divest three generic drugs as part of Novartis' acquisition of Eon: Sandoz' desipramine and orphenadrine, and Eon's rifampin. Together, the three products generated 2004 revenue of less than $5 mil., Sandoz said. The divestitures are expected to close July 22. The Federal Trade Commission is continuing to review the acquisition; Novartis has submitted a second response to the agency, and the deal is expected to close by the end of July. Novartis announced its $8.76 bil. acquisition of Eon and Hexal in February (1"The Pink Sheet" Feb. 28, 2005, p. 21)...
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