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OTHER NEWS

From Times Staff and Wire Reports

Sandoz Buying 60% of California Biotech Firm: The Swiss pharmaceutical giant will take control of SyStemix Inc. of Palo Alto for $392 million, the firms announced. Sandoz plans a tender offer of $70 per share for 49% of SyStemix’ common stock, or 4 million shares. Sandoz also said it will pay $111 million to buy nearly 2 million shares of SyStemix common stock at $56 per share. SyStemix said the acquisition will allow it to build on its work developing cellular processes and products based on human cells.


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