Novartis
NEWS
Novartis has struck a deal to acquire AveXis for $8.7 billion. Novartis will pay $218 per share, which is a 72 percent premium over AveXis’s 30-day volume-weighted average stock price.
Shares of Conatus Pharmaceuticals dropped 34.3 percent postmarket yesterday after the San Diego-based company announced mixed top-line results for its proof-of-concept trial in liver transplant patients with fibrosis or cirrhosis.
If a brand name drug loses patent protection, that often marks the date when companies can begin marketing generic versions of the drug. However, this has grown more complicated with the approvals of biosimilars.
Pfizer Inc. may have a new potential buyer for its consumer health business unit. Mega-consumer goods company Procter & Gamble is reportedly interested in acquiring the business.
Amgen gets to breathe a small, but temporary sigh of relief as a court case determining whether or not Novartis subsidiary Sandoz can launch its biosimilar challenge to blockbuster rheumatoid arthritis drug Enbrel has been delayed.
Novartis filed a federal lawsuit against a former executive, Alisha Alaimo. The lawsuit alleged that Alaimo stole confidential files using a flash drive before joining Biogen.
A Novartis leukemia drug continues to be the subject of a handful of lawsuits filed by plaintiffs due to concerns over atherosclerosis-related conditions.
Following an agreement to sell its share of a consumer health business unit to GlaxoSmithKline for $13 billion new Novartis Chief Executive Officer Vasant Narasimhan has some excess cash to use to shape the company in the coming years.
Homology Medicines has raised $144 million in an initial public offering of stock.
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