EU antitrust regulators will widen a probe into Zimmer Holdings Inc's $13.4 billion bid for Biomet Inc but clear Eli Lilly's offer for a Novartis AG unit, three people familiar with the matter said on Thursday. The two deals are among several announced in recent months in the healthcare sector, with drugmakers seeking to gain scale or specialise in certain disease areas.The European Commission, which has been reviewing the deal since August, will open an in-depth investigation into the Zimmer, Biomet deal because of concerns that it may reduce competition, the people said.The acquisition would make U.S. medical device maker Zimmer the second-largest seller of orthopaedics products behind Johnson & Johnson, boosting its presence in the fast-growing sports medicine sector.In contrast, the EU competition authority had no issues with U.S. drugmaker Eli Lilly's proposed $5.4 billion takeover of Swiss peer Novartis' animal health business, the sources said.
Johnson & Johnson is a holding company. The Company is engaged in the research and development, manufacture and sale of a broad range of products in the health care field. Shares of JNJ fell by 0.31% or $-0.32/share to $103.98. In the past year, the shares have traded as low as $85.50 and as high as $108.77. On average, 6335300 shares of JNJ exchange hands on a given day and today's volume is recorded at 479844.
Novartis AG provides healthcare solutions. The Company is a multinational group of companies specializing in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. Shares of NVS traded higher by 0.49% or $0.46/share to $93.68. In the past year, the shares have traded as low as $72.77 and as high as $95.50. On average, 1199200 shares of NVS exchange hands on a given day and today's volume is recorded at 323741.
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