Novartis: starts tender offer for AveXis

(CercleFinance.com) - Swiss drugmaker Novartis said on Tuesday that it has begun a tender offer to acquire all of AveXis' common stock for 218 dollars a share in cash.


The tender offer will expire at midnight on 14 May, unless extended.

Last week Novartis said it would buy the Nasdaq-listed company in a deal worth 8.7 billion dollars, giving it the right to a gene therapy which could be used to fight spinal muscular atrophy.

Novartis also said this Tuesday that it would invest 100 million dollars to research and develop next-generation antimalarials as part of its commitment to eliminate malaria.

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