Novartis: buys US gene therapy company AveXis
(CercleFinance.com) - Novartis is buying US-based AveXis 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, the Swiss drugmaker said on Monday.
AveXis' lead product AVXS-101, the market launch of which is expected in 2019, has the potential to be first-ever one-time gene replacement therapy for spinal muscular atrophy, a disease which can lead to early death or lifelong disability, entailing considerable healthcare costs, it said.
Novartis calls the deal "financially attractive" as multi-billion dollar peak sales are expected as of 2020.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
7 billion dollars, giving it the right to a gene therapy which could be used to fight spinal muscular atrophy, the Swiss drugmaker said on Monday.
AveXis' lead product AVXS-101, the market launch of which is expected in 2019, has the potential to be first-ever one-time gene replacement therapy for spinal muscular atrophy, a disease which can lead to early death or lifelong disability, entailing considerable healthcare costs, it said.
Novartis calls the deal "financially attractive" as multi-billion dollar peak sales are expected as of 2020.
Copyright (c) 2018 CercleFinance.com. All rights reserved.