Novartis AG (NVS) Said to Want Out of Indian Vaccines Venture With Panacea Biotec
8/29/2013 8:26:50 AM
Novartis plans to exit an eight-year-old vaccines joint venture with India's Panacea Biotec and intends to go it alone, according to reports. An article in the Economic Times suggests that the collaboration, which focused on the development and sale of paediatric vaccines for the Indian market, will soon be dissolved, citing an anonymous source. The joint venture was set up in 2004 between Panacea and Chiron, which was acquired by Novartis for $7.5bn back in 2008 as a bolt-on vaccines unit.
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