15 November 2000
Novartis to keep vet medicines

By FWi staff

BIOTECHNOLOGY giant Novartis says it has no plans to spin-off or merge its veterinary medicine business – at least for the time being.

Novartis and rival AstraZeneca this week spun off their agrochemical businesses to form new company Syngenta.

But Novartis chief financial officer Raymond Breu told the Financial Times he is not currently looking to spin off the Animal Health division.

However, he admitted that such a move could make “sense” in the longer term.