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Novartis to acquire 85% of Chinese vaccines company Zhejiang Tianyuan

Posted on: Thu, 05 Nov 2009 10:42:00 EST

Symbols: NVS

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Nov 05, 2009 (M2 EQUITYBITES via COMTEX) --
NVS | Quote | Chart | News | PowerRating -- Swiss pharmaceutical company Novartis (VTX:NOVN) reported on Wednesday
that it has entered into an agreement to acquire an 85% stake in
Chinese vaccines company Zhejiang Tianyuan Bio-Pharmaceutical Co Ltd
for approximately USD125m.

Novartis said that this is in line with its strategy to grow in the
vaccines industry in China.

The two companies intend to collaborate on building a vaccines industry
leader targeting unmet medical needs in China.

The acquisition remains subject to government and regulatory approvals
in China.

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For full details on Novartis Ag Ads (NVS) NVS. Novartis Ag Ads (NVS) has Short Term PowerRatings at TradingMarkets. Details on Novartis Ag Ads (NVS) Short Term PowerRatings is available at This Link.

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