Novartis AG Has No Need to Buy Intercell AG, According to Source
7/19/2011 8:14:16 AM
Novartis (NOVN.VX) has no need or plans to acquire Intercell (ICEL.VI), Europe's last independent vaccine maker, a source familiar with Novartis' thinking said. Novartis currently owns a 15 percent stake in the Austrian biotech group and speculation has swirled that the Swiss drugmaker could buy Intercell, which has said it is open to being acquired after a string of product setbacks over the past year. "Why would Novartis buy Intercell when it already has access to the pipeline? Novartis does not have any worries about its own vaccine pipeline and is not eager to pursue a transaction," a source familiar with the company's thinking told Reuters.