Business Standard

Monday, December 23, 2024 | 03:17 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Novartis to pay $665 mn for US blood disease drugmaker

The Swiss drugmaker expands its pipeline of medicines to combat blood diseases

Image

Reuters
Novartis said on Monday it was buying US-based Selexys Pharmaceuticals in a deal worth up to $665 million, as the Swiss drugmaker expands its pipeline of medicines to combat blood diseases.

Novartis exercised its right to acquire Selexys after a phase II trial evaluating the Oklahoma City-based company’s investigational medicine SelG1, aimed at reducing vaso-occlusive pain crises in patients with sickle cell disease. Such crises occur in adolescent and adult patients where sickled red blood cells obstruct circulation in blood vessels.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 22 2016 | 1:47 AM IST

Explore News