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Shares of Gene Therapy Firm AveXis Surge on Novartis’ Buyout

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Novartis (NVS) has agreed to pay $218/share for gene therapy firm AveXis (AVXS), a 88% premium to April 6th’s closing price. This gives Novartis, a Swiss drug giant, several treatments for rare diseases based on gene therapy.

Vas Narasimhan stated on a conference call, “We’re in a journey to focus Novartis as a medicines company powered by data and digital.”

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Novartis Bets $8.7 Billion on Gene-Therapy Company

Novartis agreed to buy U.S.-based gene-therapy company AveXis for $8.7 billion, marking the first big bet by the Swiss drug giant?s new chief as he looks to deals to refresh his drug-development pipeline…

www.wsj.com

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