According
to Pharma industry analysts Novartis really is considering selling off a few of
its units, in deals that could be worth $15 billion to $20 billion. And no,
Roche and Novartis aren't likely to
embark on any big joint projects, much less consider a merger.
This is how
Bernstein Research analyst Tim Anderson sees it. He visited both Swiss
drugmakers recently and talked with the companies' top brass. Both seemed
intent on quashing talk of a crosstown merger, recently triggered by Novartis
board member Pierre Landolt's enthusiastic comments on the prospect. Novartis
chief Joe Jimenez told Anderson that Landolt's opinion was his own and might
not be shared; Roche CFO Alan Hippe said mega-mergers are too disruptive, and
his company just isn't interested in them.