A working hypothesis included a potential spin-off of non-core Aventis and Novartis products into a new entity that would preserve jobs, specifically in France and Germany, creating a pharmaceutical company with product development, licensing and commercial operations including manufacturing.
Although the business case looks viable, the negative attitude of the French Government has influenced Novartis' consideration to a point that it will only enter into a negotiation phase if formally invited by the Aventis Supervisory Board and if the French Government assumed a neutral position.
The company stated that neither negotiations nor discussions about price have taken place.
Novartis AG (NYSE: NVS) is a world leader in pharmaceuticals and consumer health. In 2003, the Group's businesses achieved sales of USD 24.9 billion and a net income of USD 5.0 billion. The Group invested approximately USD 3.8 billion in R&D. Headquartered in Basel, Switzerland, Novartis Group companies employ about 78 500 people and operate in over 140 countries around the world.
This release contains certain "forward-looking statements" relating to the Group's business, intentions or expectations. Such statements reflect the current views of the Group with respect to future events and are subject to certain risks, uncertainties and assumptions. There can be no guarantee regarding the existence or nonexistence of any major acquisitions in the future. Many factors can cause actual events to be materially different from the Group's current intentions or expectations.
For further information please consult http://www.novartis.com.
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