The decision has also fueled speculation that Novartis may be planning a giant bid for Serono SA with shares in the Swiss biotech company rising to a three year high in the wake of the Novartis announcement.
Novartis announced in December 2005 that it was considering whether to acquire Berna shortly after Crucell made its all-share exchange offer. Novartis was said to be considering combining the operations of Berna with that of US vaccines company Chiron Corporation which it is currently in the process of acquiring.
However, the Swiss pharmaceutical conglomerate said in a statement that, “after completion of due diligence and an assessment of the potential benefits and risks of an acquisition, Novartis has decided not to make an offer for Berna Biotech AG.”