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Byline: Lewis Krauskopf
Apr. 23--The possibility of a mega-merger that would shake New Jersey's drug industry moved ahead Thursday when Novartis said it has accepted an offer from Aventis to enter talks.
Basel, Switzerland-based Novartis issued a two-sentence statement in its first-quarter earnings release indicating its willingness to negotiate with Aventis, based in Strasbourg, France.
"No assurances can be given that an agreement can be reached," Novartis said.
Novartis is the "white-knight" bidder, solicited by Aventis as it seeks to fend off a bid from French rival Sanofi-Synthelabo.