said it completed the acquisition of German generic drug company
, but it's still working on the purchase of U.S. generic drugmaker
Novartis announced in February that it would pay about $8.3 billion for the companies, which are both controlled by a German holding company. The acquisitions would make Novartis'
unit the world's largest maker of generic drugs.
Sandoz had $3 billion in sales last year. With Hexal and Eon Labs, Sandoz would have $5.1 billion worth of drugs.
The Hexal acquisition was completed Monday. The purchase of Eon Labs has been delayed because the Federal Trade Commission has asked Novartis for more information.
Novartis has made a tender offer of $31 a share for Eon Labs. The offer started May 23 and is scheduled to expire on June 20, subject to regulatory approval and the purchase of nearly 68% of Eon Labs' stock from its major shareholder.