Guest guest Posted March 23, 2006 Report Share Posted March 23, 2006 From the Associated Press Marc Moret BASEL, Switzerland (AP) - Marc Moret, the former chief executive of Ovaltine-maker Sandoz AG who organized a merger of major pharmaceuticals companies that created Novartis AG, died Friday. He was 82. Moret died after an extended illness, said Novartis spokesman Gilardi. He was an influential force in the 1996 creation of Novartis - then the world's second-largest drug-maker - from the merger of Ciba Geigy and Sandoz. At Moret's urging, some 99.6 percent of the 20.7 million shares represented at a Sandoz shareholders meeting approved the merger. Although his understudy L. Vassella was named chief executive of the new firm, Moret served as an honorary president of the company until his death. Last year, Novartis' full-year net profits rose 10 percent to $6.1 billion. Sandoz' best-known product was probably its malted chocolate drink Ovaltine. It also made Wasa and Roland crispbread, Isostar sports drinks and health foods. Copyright C 2006 The Associated Press Quote Link to comment Share on other sites More sharing options...
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