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Novartis AG (NVS) Abandons $600 Million Purchase Of Gamida Cell Ltd.


5/2/2014 8:35:18 AM

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Negotiations to buy Israeli stem cell therapies developer Gamida cell have been terminated, Gamida's parent company said on Thursday. In March, Elbit Medical Technologies - which owns a 30.8 percent stake - said Gamida had received a buyout offer worth hundreds of millions of dollars from an unnamed global pharmaceutical company. Israeli media had identified the interested buyer as Swiss drugmaker Novartis.

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