Novartis Purchases Endocyte for $2.1 Billion
Novartis, a Swiss pharmaceutical giant, recently purchased the West Lafayette, Indiana-based company Endocyte. The $2.1 billion acquisition will be a large addition to Novartis’s cancer treatment portfolio.
Endocyte is currently conducting clinical trials for radiopharmaceuticals that have the potential to be used to treat metastatic castration-resistant prostate cancer in men.
Novartis Oncology CEO Liz Barrett stated, “Today’s announcement about the proposed acquisition of Endocyte builds on our growing capability in radiopharmaceuticals, which is expected to be an increasingly important treatment option for patients and a key growth driver for our business.”
The deal is expected to close in the first half of 2019.
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