Novartis AG said Monday that it has entered into an agreement to acquire clinical-stage gene therapy group AveXis Inc. for $8.7 billion in cash, or $218 per share.
Novartis, a Swiss-based pharmaceutical group, said the deal has been unanimously approved by the boards of both companies.
In acquiring AveXis, Novartis said it hopes to expand its role as a leader in gene therapy and neuroscience. Assuming completion by the middle of this year, the Swiss group said the deal would be slightly negative to its core operating income in 2018 and 2019, mainly due to research and development investments. But by 2020, Novartis expects the acquisition to “strongly contribute” to core operating income and earnings per share owing to an expected boost in sales.
By Barbara Kollmeyer
Source: MarketWatch
Giovanni Caforio, the former CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, which on Tuesday proposed the pharmaceutical industry veteran as its pick to replace Joerg Reinhardt in the role next year. Reinhardt has served as Novartis’ chair since 2013 and plans to retire when his 12-year term ends in 2025.
GE HealthCare has raised the curtain on two ultrasound systems equipped with artificial intelligence programs designed to assist in diagnosing conditions in women’s health, including obstetric exams. The Voluson Signature 20 and 18 imaging systems include AI tools capable of automatically identifying and annotating measurements of fetal anatomy.
Scientists from the University of Edinburgh’s School of Chemistry have revealed a new sustainable method of manufacturing complex molecules that could reduce waste produced during drug production. The method published in Nature Chemistry could help to prevent severe side effects caused by drugs that can exist as enantiomers.
