Novartis Looks to Buy French Firm to Bolster Cancer Portfolio
http://ift.tt/2yWDq4L Its products include Lutathera, which recently received approval from regulators in Europe to treat certain types of tumors. Lutathera is under review by the authorities in the United States. Novartis said in a news release that the transaction would strengthen the company’s stable of cancer treatments “with both near-term product launches as well as a new technology platform with potential applications across a number of oncology early development programs.” The company reported sales of $48.5 billion last year and has about 121,000 employees. Under the terms of the deal, Novartis has offered to pay $41 per ordinary share and $82 per American depositary share. The acquisition is subject to regulatory approval and to the agreement of shareholders to sell at least 80 percent of Advanced Accelerator Applications’ outstanding ordinary shares to Novartis. “It is with great satisfaction that we announce this proposed transaction with Novartis, who we have long felt would be an ideal partner,” Stefano Buono, the French company’s chief executive, said in a news release. “We believe that the combination of our expertise in radiopharmaceuticals and theragnostic strategy together with the global oncology experience and infrastructure of Novartis, provide the best prospects for our patients, physicians and employees, as well as the broader nuclear medicine community,” he added. Continue reading the main storyHealth via NYT > Health http://ift.tt/2koaaw3 October 30, 2017 at 05:36AM
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