HEALTH

Biotech Deal Worth $2.1 Billion: Swiss drug and chemical company Ciba-Geigy Ltd. is moving big into biotech with an announcement that it will buy 49.9% of California’s Chiron Corp. for $2.1 billion. That’s a high price, analysts say, but perhaps justified, because the deal gives each company assets it needs to stay profitable. Ciba, whose biggest-selling drugs are older and facing competition, gets access to Chiron’s rich collection of experimental new drugs and medical products. Chiron gets a secure supply of cash to conduct research and access to Ciba’s strong manufacturing and marketing forces. Ciba will pay Chiron’s stockholders $117 per share for about 35% of Chiron’s outstanding stock--double the market price for Chiron before rumors of the deal surfaced earlier this month.