Novartis: buys The Medicines Company for 9.7 billion dollars
(CercleFinance.com) - Novartis is buying The Medicines Company in a deal worth approximately 9.
7 billion dollars to expand its presence on the cholesterol market, the Swiss drugmaker said on Sunday.
With this acquisition, Novartis is adding the US biopharmaceutical firm's inclisiran, described as a "potentially transformational medicine that reimagines the treatment of atherosclerotic heart disease and familial hypercholesterolemia."
In recent Phase III trials, inclisiran showed a reduction in LDL-C, or bad cholesterol, with an excellent safety and tolerability profile, Novartis said.
The Medicines Company expects to file regulatory submissions in the US in the fourth quarter of 2019 and in Europe in the first quarter of 2020.
Novartis is paying 85 dollars in cash for each share, representing a 24% premium over the price at close on Friday 22 November.
The transaction is expected to be completed in the first quarter of 2020.
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