NOVARTIS COMPLETES ACQUISITION OF 98 PERCENT OF EON LABS

Novartis announced today that it has completed the acquisition of approximately 98 percent of U.S.-based generic pharmaceutical company Eon Labs, Inc. Following the acquisition last month of Hexal AG of Germany, the Sandoz generics division of Novartis now has a strong foothold and a leading position in the highly competitive generic drug industry.

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