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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 | |
|---|---|---|---|---|---|---|---|---|
| -0.12 | -0.12% | 97.38 | 97.465 | 96.85 | 97.21 | 774,682 | 18:36:06 |
From May 2019 to May 2024
By Denise Roland
Novartis AG (NVS) has agreed to pay up to $1.6 billion to Ionis Pharmaceuticals Inc. (IONS) and its unit Akcea Therapeutics for the rights to two cardiovascular drugs.
The deal involves an upfront payment to Iona and Akcea of $75 million plus a $100 million equity investment in Iona. Novartis has also agreed to invest a further $50 million in either Ionis or Akcea within 18 months, as well as payments worth up to $1.4 billion should the drugs prove successful.
Both drugs aim to lower the level of cholesterol-carrying proteins in the blood and reduce the risk of certain cardiovascular diseases developing.
Write to Denise Roland at denise.roland@wsj.com
(END) Dow Jones Newswires
January 06, 2017 06:02 ET (11:02 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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