International Business / The Pacific

Ciba Shareholders Back Sandoz Merger: Ciba-Geigy Ltd. shareholders approved a $36-billion merger with Sandoz, clearing the way for the creation of the world’s No. 2 drug maker. The vote comes a day after Sandoz shareholders backed the merger and formation of Novartis, which would have a market value of $80 billion and annual sales of $22 billion. The merged company, maker of Gerber baby foods, painkiller Voltaren and organ transplant drug Sandimmun, will start operating after U.S. and European regulatory approval, expected by September. Ciba shareholders backed the union between Switzerland’s two largest drug makers, with 98.7% of votes cast. Earlier this week, 99.56% of Sandoz shareholders approved the merger.