Investing.com -- Swiss pharmaceutical company Novartis (SIX:NOVN) announced on Tuesday that it has entered into an agreement to purchase biopharma firm Anthos Therapeutics.
The deal, which could amount to as much as $3.1 billion, is set to be finalized in the first half of this year.
The acquisition will involve an upfront payment of $925 million by Novartis, with the potential for additional payments totaling up to $2.15 billion, as per the company’s statement.
Anthos Therapeutics’ CEO, Bill Meury, spoke highly of Novartis’ capabilities in the cardiovascular sector. He expressed confidence in the company’s ability to further the clinical development of abelacimab, an innovative product from Anthos, and deliver it to healthcare providers and patients.
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