Novartis In Talks to Buy Generic Drug Maker
Novartis is entering into talks to purchase Amneal Pharmaceuticals in a deal that could value the company at $8 billion.
Shares of Novartis (NVS) - Get Report were down slightly Monday on reports the drug-maker is in talks to buy generic-drugs maker Amneal Pharmaceuticals. A sale could value Amneal at as much as $8 billion. Novartis has fallen nearly 17% this year amid a bevy of mergers and acquisitions in the pharmaceutical sector. Amneal is a family-owned business that employs more tha 4,000 people around the world. Meanwhile Novartis is a Swiss-based company that is currently Europe's second-largest drugmaker by sales.
