A gene therapy for the rare disease spinal muscular atrophy could hit the U.S. market next year. If it does, the treatment will likely be sold by Novartis, not its developer, AveXis, thanks to a deal announced early this morning.
Novartis has agreed to buy AveXis (NASDAQ: AVXS) and its experimental SMA gene therapy AVXS-101 for $218 per share in cash, or $8.7 billion. The deal represents a whopping 88 percent premium to AveXis’s $119.60 closing price on April 6, and the price could jump higher, to $225 per share, if the deal doesn’t close by July 6. AveXis… Read more »
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