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
Echosens, a high-technology company offering liver diagnostic solutions, and Novo Nordisk A/S, a leading global healthcare company, announced a partnership to advance early diagnosis of non-alcoholic steatohepatitis (NASH) and increase awareness of the disease among patients, healthcare providers and other stakeholders.
Positive opinion based on Phase 3 ADAPT trial showing efgartigimod provided clinically meaningful improvements in strength and quality of life measures. If approved, efgartigimod will be the first neonatal Fc receptor (FcRn) blocker for the treatment of adults in Europe living with rare neuromuscular disease generalized myasthenia gravis (gMG).
Galapagos CEO Paul Stoffels, M.D., has finally taken the plunge on M&A. The newly minted chief executive has signed not one but two deals in an attempt to right the ship, bringing two small biotechs aboard for a combined 239 million euros ($251.4 million).