Novartis buys Ebewe injectables unit

Novartis AG has agreed to buy Ebewe Pharma's injectables unit for $1.2 billion in an all-cash transaction.

The deal excludes Ebewe's neurological products business but will enable Novartis to add generic cancer drugs to its offerings.

Ebewe, based in Austria, generated EUR 188 million in sales last year and EUR 53 million in operating profit.