Drug Business Delivers Three Hidden Billionaires in ItalyTom Metcalf and Marine Strauss
It took Italy’s Rovati family three weeks to negotiate the sale of its 53-year-old drugmaker Rottapharm Madaus to Sweden’s Meda AB. The deal -- 2.3 billion euros ($2.9 billion) in cash and stock -- concluded the company’s four-year search for a partner and made 86-year-old founder Luigi Rovati a billionaire.
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