NOVARTIS TO ACQUIRE AVEXIS
A few months ago, Novartis (NVS) CEO agreed to cash out of the company’s consumer health joint venture with GlaxoSmithKline (GSK), which brought in cash intended to further improve and expand Novartis’ pipeline. Here we are. Yesterday, Novartis announced its intention to acquire the gene therapy firm AveXis (AVXS) at $8.7 billion, paying $218 for each share of this firm.
In a conference call on Monday, Dr. Narasimhan Novartis CEO confirmed that the acquisition will be partly funded by the GSK joint venture sale.
Why . . .