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| Name | Symbol | Market | Type |
|---|---|---|---|
| Novartis AG | NYSE:NVS | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.07 | -0.07% | 97.27 | 97.91 | 97.07 | 97.75 | 1,045,674 | 01:00:00 |
From May 2019 to May 2024
By John Revill
ZURICH--Novartis AG (NOVN.VX) Monday said it had acquired an Australian-U.S drug development company that develops treatments for neuropathic pain, as the Swiss pharmaceutical giant adds to its pipeline of potential new products.
Basel-based Novartis said it was buying privately-held Spinifex Pharmaceuticals Inc. for an undisclosed sum. Spinifex, jointly based in Melbourne and Stamford, Conn., develops drugs designed to block neuropathic pain, a condition caused by nerve dysfunction that affects up to 8% of adults.
Among Spinifex's projects under development is a compound called EMA401, which is in Phase II testing. The compound is designed to treat neuropathic pain without side effects to the central nervous system, such as dizziness or confusion.
"EMA401 could provide a novel, differentiated treatment approach to provide relief for patients and healthcare providers worldwide," David Epstein, who runs Novartis Pharmaceuticals, said in a statement.
Write to John Revill at John.Revill@wsj.com
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