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Novartis to acquire Lek

This article was originally published in The Tan Sheet

Executive Summary

Pharma company could expand its pipeline for generic drug launches in U.S. with the acquisition of Slovenian firm Lek Pharmaceuticals for roughly $793 mil. (CHF 1.2 bil.). Announced Aug. 29, proposed deal also would give Novartis access to markets in Central and South Eastern Europe and the Commonwealth of Independent States. Lek will continue to operate as a separate firm based in Slovenia; no workforce downsizing is planned, Novartis says. Lek markets four generic drugs in U.S., including GSK's Tagamet HB (cimetidine), which is sold under a licensing agreement with Leiner; firm also has an ANDA pending for a generic version of Rx Prilosec...
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