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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