Word: sandoz
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Dates: during 2000-2009
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...real shock. - With reporting by Jeff Israely Alternative Medicine What's the remedy for growing pains in the global pharmaceutical sector? For Novartis, it's generic: the Swiss firm last week swallowed Germany's Hexal and America's Eon Labs for $8.4 billion, forging them into its existing Sandoz unit to create the world's largest manufacturer of off-patent, copycat drugs. A slide in blockbuster drug approvals in recent years - combined with the expiration of patents protecting a wave of branded drugs introduced in the '80s - has helped make generics big business. Government encouragement of the sector means...