Novartis seeks to co-operate with Roche

A merger between Swiss pharmaceutical giants Novartis and Roche is unlikely in the near term according to Novartis chief executive Mr Daniel Vasella in a newspaper interview published today.

Novartis has recently built up a 20 per cent stake in its Swiss rival. "A merger is not up for discussion now and I would not like to bring it up for discussion," Mr Vasella was quoted as saying in the

Finanz und Wirtschaft

newspaper.

He continued: "The fact is that we are a strategic investor with a 20 per cent voting stake and with 3.7 per cent of all Roche shares. Those are the facts and the rest is speculation."

Mr Vasella said the two companies would discuss ways to co-operate once the uproar over its purchase of the Roche stake settled down.