Novartis snaps up AveXis in $8.7bn deal
Novartis is buying US gene therapy group AveXis in a deal valued at $8.7 billion.
The firm has agreed to pay $218 per share for the business, just days after it banked $13 billion from the sale of its stake in the consumer healthcare joint venture owned with GlaxoSmithKline.
The Swiss drug giant is expecting the move to expand its position in the gene therapy space, supporting both its ambition to be a leader in neurodegenerative diseases “and our Neuroscience franchise priorities to strengthen our position in devastating paediatric neurological diseases such as SMA,” said Paul Hudson, chief executive of Novartis Pharmaceuticals.
Read more: http://www.pharmatimes.com/news/novartis_snaps_up_avexis_in_$8.7bn_deal_1230899
The firm has agreed to pay $218 per share for the business, just days after it banked $13 billion from the sale of its stake in the consumer healthcare joint venture owned with GlaxoSmithKline.
The Swiss drug giant is expecting the move to expand its position in the gene therapy space, supporting both its ambition to be a leader in neurodegenerative diseases “and our Neuroscience franchise priorities to strengthen our position in devastating paediatric neurological diseases such as SMA,” said Paul Hudson, chief executive of Novartis Pharmaceuticals.
Read more: http://www.pharmatimes.com/news/novartis_snaps_up_avexis_in_$8.7bn_deal_1230899
