Sector News

Novartis in $1.6 bln deal for Ionis, Akcea drugs

January 9, 2017
Life sciences

Novartis AG has agreed to pay up to $1.6 billion to Ionis Pharmaceuticals Inc. and its unit Akcea Therapeutics for the rights to two cardiovascular drugs.

The deal involves an upfront payment to Iona and Akcea of $75 million plus a $100 million equity investment in Iona. Novartis has also agreed to invest a further $50 million in either Ionis or Akcea within 18 months, as well as payments worth up to $1.4 billion should the drugs prove successful.

Both drugs aim to lower the level of cholesterol-carrying proteins in the blood and reduce the risk of certain cardiovascular diseases developing.

By Denise Roland

Source: MarketWatch

comments closed

Related News

October 2, 2022

GSK names Julie Brown, a 25-year AstraZeneca veteran, its first woman CFO

Life sciences

Five years ago, GSK made headlines when it hired Emma Walmsley to become the first woman to run a major pharmaceutical company. Now the Big Pharma has brought in another woman to control the company’s finances. Julie Brown will be GSK’s next chief financial officer. Brown, currently the chief operating and financial officer at fashion and beauty brand Burberry Group, is set to replace Iain Mackay.

October 2, 2022

Moderna creates new launch preparation role, poaches Novartis exec as manufacturing lead

Life sciences

Moderna created a new role responsible for “building out the company’s organization to support its growing pipeline.” Starting first thing 2023, Juan Andres, Moderna’s manufacturing head, will step into this new role under the title president of strategic partnerships and enterprise expansion, the company said Thursday.

October 2, 2022

Torrent Pharma to acquire Curatio for $245.16m

Life sciences

The latest takeover is anticipated to boost the presence of Torrent in the dermatology segment. Indian company Torrent Pharmaceuticals has signed a definitive agreement for the complete acquisition of Curatio Healthcare for $245.16m (Rs20bn).