Berna Biotech AG Shares Soar As Novartis (NVS) Considers Bid

Novartis AG, Europe's second-biggest drugmaker by market value, said it may expand its Chiron Corp. vaccines business with a counter-bid for Berna Biotech AG, which Crucell NV agreed to buy earlier this month. Novartis’ interest will take the form of an all cash offer, supplanting Crucell’s equity based deal valuing Berna Biotech at about SFr530m. ``The combination of Berna and Chiron would offer complementary geographic coverage and product ranges,'' Basel, Switzerland-based Novartis said in an e-mailed statement today. ``A potential acquisition would assure continued Swiss ownership of an increasingly important health-care business with public health responsibilities.'' Novartis said the company had been given the ``opportunity to perform due diligence on Berna,'' though there's no guarantee an offer will be made, its statement said.

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