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Switzerland: Novartis limits ties to pharma rival Roche

By  |  March 2, 2014

Swiss pharmaceutical giant Novartis said Sunday it would continue to keep close ties with its rival Roche, but reportedly ruled out any merger between the two firms.

In an interview, Novartis chairman Joerg Reinhardt said the two companies “absolutely” want to remain independent of each other, but that the companies continue to communicate with each other. Novartis noted that the two firms have similar interests in similar geographical markets.

Novartis, which owns one-third of Roche’s shares, had been rumored to be seeking a deal last October, but Roche similarly denied any such plans.

Full Content: Reuters

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