Novartis nears deal to acquire Medicines - report

Saturday, 23. November 2019 20:54

Swiss pharma giant Novartis AG is reportedly nearing a deal to acquire cholesterol-drug maker The Medicines Co. for approximately $7 billion, said the sources familiar with the deal on Saturday.

Sources told the Wall Street Journal that Novartis will pay $85 per share and that the deal could be arranged already this weekend. With this deal, Novartis is trying to get into the heart treatments market, targeting it with its heart-failure treatment Entresto.

The Medicines shares closed at $68.55 on Friday that means that this deal values the company at least 20% more.

Related Links: The Medicines CompanyNovartis AG
Breaking the News / TF