Swiss pharma major Novartis is proposing to purchase all outstanding shares in Swiss biopharmaceutical firm Speedel following its acquisition in early July of a further 51.7% share, which gives it a 61.4% holding.

Swiss pharma major Novartis is proposing to purchase all outstanding shares in Swiss biopharmaceutical firm Speedel following its acquisition in early July of a further 51.7% share, which gives it a 61.4% holding. The complete acquisition, excluding the 9.7% stake previously held by Novartis, is valued at CHF907m. Novartis believes the full acquisition is a natural development of the two companies' long-standing collaboration.