Breaking News, Collaborations & Alliances

Novartis Inks $8.7B Deal to Acquire AveXis

Novartis will pay $218 a share of AveXis in cash, an 88% premium to its closing price on April 6

Novartis has entered an agreement to buy AveXis Inc., a gene therapy company, for $8.7 billion dollars as part of its neuroscience strategy.   The deal follows the recent sale of Novartis’s stake in its consumer health-care joint venture to GlaxoSmithKline PLC (GSK.LN) for $13 billion.    Novartis will pay $218 a share of AveXis in cash, an 88% premium to its closing price on April 6, and intends to fund the acquisition with available cash and short-term borrowing.   ...

Continue reading this story and get 24/7 access to Contract Pharma for FREE


Already a subscriber? Sign in

Keep Up With Our Content. Subscribe To Contract Pharma Newsletters