Deals
Novartis Unwinds Roche Ties With $20.7 Billion Stake Sale
- Novartis made 10% annual gain on its two-decade investment
- CEO has been reshaping Novartis by severing links to rivals
Photographer: Gianluca Colla/Bloomberg
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Novartis AG agreed to sell its stake in Roche Holding AG back to the rival Swiss drugmaker for $20.7 billion, ending a two-decade investment and building up a cash pile for possible acquisitions.