BASF, the German chemicals group, has agreed to sell its genericpharmaceuticals activities to Novartis for Euro 115 million, La Tribunereports this week. BASF employs staff of 224 in its Euro 60 million turnovergenerics operations that are conducted by six subsidiaries trading in Germany,France, Italy, Holland, Switzerland and Spain. BASF has recently restructuredits ethical pharmaceuticals activities under a Euro 228 million turnover andBASF Pharma now has its headquarters in London. Novartis has Euro 1.2billion turnover in the Euro 8 billion European generic pharmaceuticals marketheaded by Ratiopharm, Novartis and Merck. BASF recently expanded its vitaminsector with the acquisition of Takeda's vitamins division.
