Novartis chairman rules out merger with Roche: paper

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Novartis chairman rules out merger with Roche: paper

<p><a href="http://news.yahoo.com/novartis-chairman-rules-merger-roche-paper-111041197--finance.html"><img src="http://l1.yimg.com/bt/api/res/1.2/45gHnqum4JcXbR0r2p.2fg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-03-02T111041Z_1_CBREA210V2000_RTROPTP_2_CBUSINESS-US-NOVARTIS-CHAIRMAN.JPG" width="130" height="86" alt="Designated successor Reinhardt is seen on a huge TV screen as outgoing utgoing Chairman of Swiss drug maker Novartis Vasella addresses the the annual shareholders general meeting in Basel" align="left" title="Designated successor Reinhardt is seen on a huge TV screen as outgoing utgoing Chairman of Swiss drug maker Novartis Vasella addresses the the annual shareholders general meeting in Basel" border="0" /></a>Swiss pharma group Novartis will work more closely with rival Roche but rules out a merger, its chairman said in a newspaper interview on Sunday. Asked whether the two companies wanted to stay independent, Joerg Reinhardt, who took over as Novartis chairman in August, told Swiss newspaper SonntagsZeitung: &quot;Absolutely.&quot; He said, however, that he'd met outgoing Roche Chairman Franz Humer a few weeks ago and was also exchanging emails with his successor Christoph Franz. Both Roche and Novartis are based in Basel in north-western Switzerland. Asked whether Novartis could sell its stake in Roche that was built up under his predecessor Daniel Vasella, Reinhardt said: &quot;The shares are in good hands with us.</p><br clear="all"/>

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