Dollars and Jens
Wednesday, March 24, 2004
Sanofi-Aventis-Novartis
Remember the Sanofi effort to buy Aventis? If not, here's a little reminder.
Well, Novartis is interested in Aventis, too, but only with the backing of Aventis management, and only if the French government stays out of it. So, will the French pass up a good opportunity to keep quiet? Apparently so.
France signalled its opposition to a Novartis deal last week as Prime Minister Jean-Pierre Raffarin declared "the construction of a large European pharmaceutical group that is profoundly marked by Franco-German relations is strategic for France." He also invoked France's national interest in concern over the fate of vaccines that would be useful to fight against terrorism.Sanofi is French, which is why the French are backing them. Aventis is mostly German, with a lot of French as well. Novartis is Swiss.
