BackNovartis to acquire 49% stake in Chiron Behring Vaccines
Novartis to acquire 49% stake in Chiron Behring Vaccines
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Mumbai: Novartis Pharma AG will acquire 49% stake in Chiron Behring Vaccines Pvt Ltd. for $22.3 million from Aventis Pharma Ltd., Aventis informed the Bombay Stock Exchange (BSE) on Monday. Chiron Behring is a joint venture of Novartis Vaccines and Diagnostics Inc. and Aventis Pharma. Novartis and Aventis are currently fighting a couple of cases on the largest selling rabies vaccine brand, Rabipur, after the brand went to Novartis in 2009. Rabipur was the largest selling rabies vaccine brand in India sold by Aventis for the last one decade. With this transaction, this dispute will be mutually settled. Another case is also pending between these two companies as Aventis was planning to sell its own rabies vaccine brand Verorab in India which Novartis argued that as they were partners in one rabies vaccine company, it may create conflict of interest.
Rabipur, the top selling rabies vaccine, with an almost 60% vaccine share was contributing atleast 10% to Aventis Pharma’s total revenue till it went to Novartis.
Aventis further added that it will provide certain utilities and services to the Ankleshwar plant of Chiron Behring for a three year period from the date of closing.
Harini.S@livemint.com
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