Novartis Pharma AG (NVS) In UK Biotech Deal Worth Up To $375 Milllon
10/19/2005 5:13:16 PM
LONDON, April 13 (Reuters) - Swiss drugmaker Novartis AG (NOVN.VX: Quote, Profile, Research) unveiled one of the biggest-ever deals in the European biotech sector on Wednesday, taking on an experimental treatment for smoker's lung from two British firms for up to $375 million.
Vectura Plc (VEC.L: Quote, Profile, Research) and privately owned Arakis Ltd said Novartis had agreed to develop and commercialise their AD 237 treatment for chronic obstructive pulmonary disease (COPD), which is primarily caused by smoking.
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