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Novartis to Up Lek Bid by almost 50 Euros

Basel, 18 October - The Swiss pharma company Novartis said Friday it was willing to raise its offer for the takeover of Slovenian drug maker Lek to SIT 105,000 (EUR 459). The largest shareholders agree to sell all Lek shares at the price, and fully back the merger of Lek and Novartis's division Novartis Generics. According to Slovenian law, the offer, which would expire tomorrow, is thus valid until 4 November, the company also said. Novartis's initial offer was SIT 95,000/EUR 415.

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