The Medicines Company’s worth declared at $9.7bn post Novartis’ buyout
Category: #health  By Nikita Chaurasia  Date: 2019-11-25
  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn

The Medicines Company’s worth declared at $9.7bn post Novartis’ buyout


Novartis has reportedly planned the purchase with a target of adding inclisiran, a potential cholesterol lowering drug of The Medicines Company to its existing cardiovascular portfolio

Swiss multinational pharmaceutical company, Novartis International AG recently announced plans to acquire a US-based biopharmaceutical firm, The Medicines Company for a transaction of USD $85 per share in cash.  The acquisition, the Medicines Company’s fully diluted equity value is likely to be worth approximately USD $9.7 billion, which marks a premium of almost 45% to the company’s closing share price.

The strategic acquisition of The Medicines Company will aid Novartis to continue building its pipeline strength in a key therapeutic area. The move will also add inclisiran, a first-in-class small interfering RNA (siRNA) inhibitor targeting PCSK9 with the potential to fundamentally change the treatment of elevated low-density lipoprotein cholesterol (LDL-C) in high-risk patients.

The US-based Company reportedly announced data from its clinical program consisting of 3 Phase III trials for inclisiran, involving over 3,600 high-risk patients with atherosclerotic cardiovascular disease and familial hypercholesterolemia. The drug demonstrated potent & durable LDL-C reduction in all the trials, with high safety and tolerability profile.

Medicines Company has plans to file regulatory submissions for inclisiran in the U.S. by the end of 2019 & in Europe in early 2020. Furthermore, ORION-4, an ongoing clinical trial is investigating the cardiovascular morbidity & mortality advantages of inclisiran in 15000 patients for a period of 5 years.

Marie-France Tschudin, President, Novartis Pharmaceuticals was reportedly quoted saying that the company Novartis has a longstanding history of delivering transformational cardiovascular treatments for patients. The company is elated by this opportunity to add inclisiran to its cardiovascular portfolio.

The new investigational medicine has the potential to specifically address one of the largest areas of underserved patient requirements. Tschudin added that the firm believes that its strong capabilities & global footprint can aid worldwide access to this much-needed treatment.

With the expansion of its cardiovascular portfolio, Novartis would be enabled to leverage its core commercial capabilities as well as its strong cardiovascular field force both in the U.S. and globally.
 

Source Credit: https://www.novartis.com/news/media-releases/novartis-acquire-medicines-company-usd-97-bn-adding-inclisiran-potentially-transformational-investigational-cholesterol-lowering-therapy-address-leading-global

  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn


About Author

Nikita Chaurasia     twitter

Nikita Chaurasia

Having always been daft at wordplay, Nikita Chaurasia, post the completion of post-graduation, commenced her journey into the content generation cosmos. Endowed with a professional MBA degree in Advertising and Public Relations, Nikita strives to integrate her creativ...

Read More..

More News By Nikita Chaurasia

Spotify to allow access to all creators in its video podcast platform

Spotify to allow access to all creators in its video podcast platform

By Nikita Chaurasia

Audio streaming giant Spotify has announced the launch of its video podcast feature, which will be provided by its self-publishing podcast division, Anchor. According to sources, the feature will initially be offered on a rolling basis where interes...

U.K.’s competition regulator might look into the music streaming space

U.K.’s competition regulator might look into the music streaming space

By Nikita Chaurasia

The Competition and Markets Authority of the U.K. has revealed plans to launch a probe targeting the country’s music streaming market to ascertain if it is sufficiently consumer-centric and competitive. The announcement came after a U.K. parli...

India’s vaccination drive slows down as dose gap holds back output

India’s vaccination drive slows down as dose gap holds back output

By Nikita Chaurasia

India’s vaccination efforts have reportedly slowed down despite stockpiling vaccines as authorities are maintaining a more than usual gap between two shots. This is a part of the strategy to boost vaccine coverage in the country. The domestic ...