Novartis Nears Deal to Buy Cholesterol-Drug Maker Medicines Co.
November 23 2019 - 2:26PM
Dow Jones News
By Dana Cimilluca, Cara Lombardo and Jonathan D. Rockoff
Novartis AG is nearing a deal to buy cholesterol-drug maker the
Medicines Co. for nearly $7 billion, in an expensive bid to expand
its reach in the lucrative market for heart treatments.
The Swiss pharmaceutical giant has agreed to pay $85 a share in
a deal that could be announced this weekend, people familiar with
the matter said.
The acquisition would help Novartis, which has a market value of
more than $200 billion, bulk up in a corner of the health-care
market it is already targeting with drugs including its
heart-failure treatment Entresto.
(More to come)
(END) Dow Jones Newswires
November 23, 2019 14:11 ET (19:11 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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