Shearman & Sterling has scored the lead role on pharmaceutical giant Novartis’ $8.3bn (£4.4bn) acquisition of German drug manufacturer Hexal and a stake in US-based Eon Labs – securing what promises to be one of the biggest European deals of the year.

The deal is the second major instruction the Swiss-based Novartis has put Shearman’s way after calling in the US firm last year on its unsuccessful bid for French drugs group Aventis.