Novartis Shells Out $8.7 Billion To Buy AveXis - FbiCables Network | The News that Shapes World Opinion

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Monday, April 09, 2018

Novartis Shells Out $8.7 Billion To Buy AveXis


Logo of Swiss drugmaker Novartis is seen at its branch in Schweizerhalle near Basel
Logo of Swiss drugmaker Novartis is seen at its branch in Schweizerhalle near Basel, Switzerland, March 29, 2018. REUTERS/Arnd Wiegmann
April 9, 2018
ZURICH (Reuters) – Novartis <NOVN.S> said on Monday it plans to buy AveXis <AVXS.O> for $218 per share in a cash deal totaling $8.7 billion as the Swiss drugmaker adds a company whose top drug hopeful, for spinal muscular atrophy, has U.S. breakthrough therapy designation.
Novartis is flush with cash, having just agreed to sell its stake in a consumer healthcare joint venture for $13 billion to GlaxoSmithKline <GSK.L>.

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