Swiss pharmaceutical giant Novartis said on Tuesday that it would not make a takeover offer for Bern-based vaccine maker Berna Biotech.

"After completion of due diligence and an assessment of potential benefits and risks of an acquisition, Novartis has decided not to make an offer for Berna Biotech," Novartis said in a statement.

The announcement comes a month after Novartis said it was considering making a cash bid and means Dutch company Crucell's offer now stands a strong chance of clinching the deal.

Berna's shareholders will meet on Wednesday to discuss Crucell's offer of approximately 580 million Swiss francs (450 million U.S. dollars). Berna's management is in favor of the Crucell bid.

The Dutch concern's shareholders are expected to vote on the plan on Tuesday.

Crucell is a biotech company specializing in the development of vaccines for infectious diseases.

CEO Ronald Brus said last December the takeover of Berna would enable Crucell to compete as the "leading independent vaccine player" on the market. He said the main goal was to boost growth and not to save costs. Under the terms of any deal, the merged company would be known as Crucell.

Source: Xinhua