Ac­quis­i­tive No­var­tis bags PC­SK9 play­er Med­Co for $9.7B, set­ting up a flank at­tack on Sanofi, Re­gen­eron and Am­gen

The ru­mors were true.

No­var­tis has struck a deal to buy the Med­i­cines Com­pa­ny $MD­CO for $9.7 bil­lion, putting it in the dri­ver’s seat of a new — and very late-stage — PC­SK9 drug that has the Sanofi/Re­gen­eron team as well as Am­gen on high alert for some ma­jor league com­pe­ti­tion.

The deal weighs in at $85 a share, giv­ing the biotech a “ful­ly di­lut­ed eq­ui­ty val­ue of ap­prox­i­mate­ly USD 7.7 bil­lion when in­clud­ing the im­pact of out­stand­ing stock op­tions and con­vert­ible debt,” ac­cord­ing to No­var­tis.

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