Novartis reportedly nears deal to buy cholesterol drugmaker Medicines Company for $7 billion

Health, Fitness & Food

A symbol sits on display screen on a setting up at the Novartis AG campus in Basel, Switzerland, on Wednesday, Jan. 16, 2019.

Stefan Wermuth | Bloomberg | Getty Photos

Swiss pharmaceutical big Novartis is shut to a offer to obtain the cholesterol drugmaker Medicines Company for practically $seven billion, according to The Wall Street Journal, which cited individuals acquainted with the issue.

Novartis has agreed to shell out $85 a share for Medications Business in a offer that could be arrived at this weekend, in accordance to The Journal.

The offer would bolster the Swiss pharma giant’s posture in the marketplace for coronary heart remedies, The Journal noted. Novartis, which has a marketplace worth of in excess of $200 billion, is now concentrating on that marketplace with medicine these types of as the coronary heart-failure cure Entresto.&#xA0

Having said that, Entresto’s early product sales have not satisfied Wall Street’s anticipations, in accordance to The Journal, even though prescriptions have picked up with product sales leaping to $430 million in the 3rd quarter.&#xA0

Medications shut down practically two% Friday at 68.55 a share. The corporation, which has a marketplace cap of about $five.four billion, is up 258% calendar year to day.&#xA0

Read the full story in The Wall Street Journal

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