Marc Moret, 82; Led Merger That Created Drug Giant Novartis
From Times Staff and Wire Reports
Marc Moret, 82, the former chief executive who organized a merger of major Swiss pharmaceutical companies that created Novartis AG, died Friday.
Moret died after an extended illness, said Novartis spokesman John Gilardi.
As chief executive of Sandoz AG in 1996, he was an influential force in the company’s merger with Ciba Geigy -- a $29-billion transaction that created Novartis, then the world’s second-largest drug maker.
Although his understudy, Daniel L. Vassella, was named chief executive of the new firm, Moret served as an honorary president of the company until his death.
