Nycomed shares rise on Altana rumors

The stock of Norwegian contrast agent developer Nycomed rose on the Oslo stock exchange this month on rumors that the company was exploring closer ties with German pharmaceutical company Altana Industrie-Aktien und Anlagen. The companies are already jointly marketing an ulcer drug, and may be looking for ways to expand their partnership, according to AFX News.

Nycomed has been the subject of merger or acquisition rumors since its proposed merger with U.S. generic drug firm Ivax broke down in 1995 (SCAN 12/13/95). The company said at the time the deal fell apart that it would continue to pursue strategic partnerships. Nycomed executives declined to comment on the Altana rumors.