Reported about 12 hours ago
Novartis has announced its acquisition of Tourmaline Bio for $1.4 billion, valuing the biopharmaceutical company at $48 per share. This acquisition enables Novartis to integrate a promising Phase III-targeted therapy aimed at treating atherosclerotic cardiovascular disease into its existing portfolio. The transaction, unanimously approved by both companies' boards, is expected to be finalized in the fourth quarter, after which Tourmaline will become a wholly-owned subsidiary of Novartis.
Source: YAHOO