Novartis Vaccines Buys Out Indian JV from Aventis Parma Limited
Kelley Drye & Warren LLP and its independent affiliate law firm in Mumbai, India, represented Cambridge, Massachusetts based Novartis Vaccines & Diagnostics, Inc. and Basel, Switzerland based Novartis Pharma AG, in the acquisition of the 49% equity interest of Aventis Pharma Limited in Chiron Behring Vaccines Private Limited, the manufacturer of the anti-rabies vaccines Rabipur. The acquisition value was close to US$23 million. Novartis Vaccines & Diagnostics, Inc. already holds 51% of the Indian company. After this acquisition Chiron Behring Vaccines Private Limited becomes a wholly owned subsidiary of the Novartis group. The transaction closed on December 23, 2010.