On September 30, 2009
The Novartis-AstraZeneca Deal Worst-Case Scenario
AstraZeneca’s stock is up on the speculation that it might be a takeover target for Novartis. It’s not going to happen. Here’s why. AZ and Novartis share only one thing in common: They have similar operating leverage, in that both get about $3 in revenues for every $1 they spend on reps and marketing. But the similarities end there.
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