The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Novartis AG agreed to buy Medicines Co and its promising heart drug for $9.7 billion, the latest move in the Swiss
drugmaker’s push to amass novel treatments for complex conditions.
Medicines Co’s experimental treatment inclisiran uses a new approach to lower bad cholesterol in especially hard-to-treat patients. Novartis Chief Executive Officer Vas Narasimhan was willing to foot the bill, which includes stock options and convertible debt, for a medicine that appears to be moving quickly to the US market where it will compete against existing products from Amgen Inc, Regeneron Pharmaceuticals Inc and Sanofi.
Drugmakers are targeting conditions and technologies that can set them apart from rivals, leaving more room for sales growth and allowing them to charge higher prices in cost-conscious market. Narasimhan is adding Medicines Co to a list of purchases that includes AveXis and Endocyte.