You are here: Home » International » News » Others
Business Standard

Novartis bets big on gene therapy with $8.7 billion AveXis deal

This is Novartis's second notable gene therapy deal this year

Reuters  |  Zurich 

Swiss drugmaker Novartis is moving further into gene therapy by buying AveXis for $8.7 billion, adding a rare-disease treatment that could reap billions in sales. The acquisition reflects a surge of interest in biotech deal-making as large pharmaceutical companies seek promising new assets to boost their pipelines. The $218-per-share cash deal announced on Monday represents a 72 percent premium to AveXis's 30-day volume-weighted average stock price. The transaction is seen closing in mid-2018. Novartis Chief Executive Vas Narasimhan, who took over on Feb. 1, is flush with ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, April 09 2018. 20:49 IST