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Novartis Corporation (NVS) Rules Out Bid For Berna Biotech AG


1/10/2006 11:43:56 AM

Novartis, the acquisitive Swiss pharmaceuticals group, decided on Tuesday not to make a takeover offer for Berna Biotech, leaving Crucell as the only bidder for the Swiss vaccine company. Novartis last month said that it was conducting due diligence on the company to make a possible cash offer following an agreed all-share offer by Crucell of the Netherlands which valued Berna at about SFr591m ($462m).

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